Israeli smart glass company, Gauzy, announced on Tuesday it has raised $60 million in Series D funding and acquired a France-based company, Vision Systems, which specializes in developing advanced driver assistance systems (ADAS) solutions for air, land, and marine-based transportation systems.
Investment firms IBEX, Olive Tree VC, Blue Red Partners, Waarde Capital, and Avery Dennison (NYSE: AVY) led the funding round, alongside new investors including Walleye Capital and 3A Capital.
As a result of the acquisition, Gauzy will now be able to supply a wide variety of ADAS products including camera-based image analysis and monitoring systems and innovative smart mirrors with greater light control elements; all of which are applicable for private, public, and industrial vehicles.
Using the newly acquired funds and assets, Gauzy aims to make significant advances in the ADAS arena by integrating its light control technology into the ADAS products themselves “to reduce visual obstructions such as glare on the road, create safety gates with instant on-demand privacy for public transport operators if there is a perceived threat, and for high contrast switchable transparent displays to communicate safety messages to the surrounding environment.”
The company will still continue to offer its signature technologies across its large distribution channel which include more than 70 certified partners and its substantial portfolio of professional customers.
“Further advancing ADAS and APAS (advanced passenger assistance systems) solutions to incorporate light control glass technologies from a system-based approach addresses a growing demand for safety-focused solutions in the transportation industry,” said Eyal Peso, CEO of Gauzy. “We will be not only working towards systems that support drivers, but also passengers, occupants, and general users of our products across industries.”