Porsche invests in road visibility startup TriEye | Smart Highways Magazine: Industry News

Porsche invests in road visibility startup TriEye

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Israeli startup TriEye develops short-wave-infra-red sensing technology that enables vision in adverse weather and night-time conditions. 

TriEye as expanded its funding round to $19 million with an investment from German sports car manufacturer Porsche.

Reuters reports that the amount Porsche has invested has not been disclosed.

TriEye reportedly said that the additional funds will be used for product development and operations as well as team growth.

According to Reuters in May TriEye announced an early funding round, led by Intel Capital. Other investors in the round include Israeli businessman Marius Nacht and TriEye’s existing investor Grove Ventures. To date, TriEye has raised $22 million, including a seed investment of $3 million led by Grove Ventures in 2017.

 
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