TEL AVIV, Israel & SAN FRANCISCO--(BUSINESS WIRE)--Vayyar Imaging, the 3D imaging sensor company whose technology makes it possible to see through objects, today announced it has closed a $45 million Series C financing round co-led by Walden Riverwood and ITI with additional funding from Claltech and follow-on investment from Battery Ventures, Bessemer Ventures, Israel Cleantech Ventures, and Amiti, bringing total capital raised to date to $79 million USD. Vayyar will use the funds to expand into new industries, grow its global team and diversify its sensing product offerings. Click here to see a video about Vayyar’s sensor capabilities.
Raviv Melamed, co-founder, CEO, and Chairman of Vayyar, said: “Our 3D imaging sensors transform elder care, autonomous vehicles, medical, agriculture, and retail by bringing innovative and exciting solutions to these markets. It is amazing to see how the ability to look into objects can help humanity in so many ways. We currently work in collaboration with industry-leading companies to create applications that address some of their toughest challenges. The target of this round is to allow us to grow even faster than before.”
Vayyar's sensors create a 3D image of everything happening around you in realtime, without the use of a camera. These sensors can see through solid objects, map large areas and can be used in privacy-sensitive locations where optics cannot. Providing a look beyond human vision, Vayyar’s sensors have expanded across industry sectors, including smart home, automotive, retail, robotics, medical, construction, agriculture and more. Vayyar’s mission is to help people worldwide improve their health, safety, and quality of life. Because of the high demand for Vayyar’s technology by a wide range of industries, the company and its investors predict the need for the company to rapidly scale non-linear growth opportunities.
Lip-Bu Tan, Chairman of Walden International and Managing Director of WRV, said: “Vayyar’s technology has disruptive potential across a myriad of different industries. Vayyar is growing fast, and we look forward to helping Vayyar impact the automotive and smart home industries in a similar way.”
Roy Oron, Founder of ITI, added: “Vayyar is a cutting-edge player in the three-dimensional imaging technology space. Our investment exemplifies our commitment as an entrepreneurial capital partner for extraordinary Israeli technology companies with exceptional management teams and proven technology. ITI is proud to join the Vayyar team and their shareholders to accelerate its already robust forward momentum.”
Vayyar will demonstrate its latest automotive and smart home sensors, which provide 360 indoor and outdoor sensing, at the 2018 Consumer Electronics Show in Las Vegas, January 9-12. Attendees can also receive a hands-on demonstration of Walabot DIY, Vayyar’s handheld imaging device that sees through walls. Stop by Vayyar’s booth on the show floor in the Sands, Halls A-D, Booth #40420 to learn more.
About Vayyar Imaging
Vayyar Imaging is changing the imaging and sensing market with its breakthrough 3D imaging sensor technology. Utilizing a state-of-the-art embedded chip and advanced imaging algorithms, Vayyar’s mission is to help people worldwide improve their health, safety and quality of life using mobile, low-cost, and safe 3D imaging sensors. Visit www.vayyar.com to learn more.
About Walden Riverwood
Walden Riverwood Ventures, a venture capital firm focused on investing in core technology companies was formed as a collaboration between Walden International, a leading international venture capital firm and Riverwood Capital, a global, technology-focused private equity firm. Walden’s founding partners provide its portfolio companies with unique access to deep industry knowledge, relationships and management experience.
ITI is an entrepreneurial capital partner to visionary Israeli founders building technology companies that are changing the world. ITI is founded by Managing Partner Roy Oron with the support of Investec Bank. It actively supports Israeli tech companies to accelerate their global expansion and leverages Investec’s international platform and investors.