TriEye Secures $74M Funding Led by Intel, Samsung & Porsche

TriEye Secures $74 Million for Advanced Sensing Technology

TriEye, an Israeli startup, has successfully raised $74 million in funding to facilitate the commercial rollout of a novel sensing technology. This technology is designed to significantly enhance the vision capabilities of both autonomous and driver assistance systems, particularly in challenging environmental conditions.

Leveraging Short-Wave Infrared (SWIR) Technology

The core of TriEye’s innovation lies in the utilization of short-wave infrared (SWIR). This wavelength range extends beyond the humanly visible spectrum. While SWIR sensing isn’t a new concept, its application has historically been limited to the aerospace and defense sectors due to prohibitive costs.

TriEye asserts that recent engineering advancements have substantially reduced these costs. The resulting sensors are now competitive with standard cameras found in everyday devices like smartphones and vehicles, while simultaneously exceeding the performance of existing sensor types.

A Decade of Research and Development

This breakthrough is built upon over ten years of research spearheaded by Uriel Levy, the company’s CTO, during his time at Hebrew University. The company is now positioned to introduce SWIR technology to a broader consumer market.

Seeing “Beyond the Visible”

According to Avi Bakal, TriEye’s CEO, SWIR technology provides an additional layer of crucial data to current vision systems, enabling perception “beyond the visible.”

“Sensing is fundamental across all industries,” Bakal stated. “It’s integral to data collection and analysis. Currently, the vision system market lacks essential data that can significantly impact performance and decision-making processes.”

The sedar Sensor: A Comprehensive Solution

TriEye has developed a sensor, named sedar (spectrum enhanced detection and ranging), utilizing SWIR technology and a unique, internally developed illumination source. The company claims sedar delivers all the imaging and depth information necessary for both advanced driver assistance systems and fully autonomous vehicles.

This capability potentially allows sedar to replace the conventional sensor suite currently employed in these systems, which typically consists of cameras, radar, and lidar.

Cost-Effectiveness and Scalability

A key advantage of TriEye’s technology is its potential for cost reduction compared to traditional cameras and lidar systems. Bakal emphasizes this as crucial for “truly enable mass market adoption.”

“Our aim is widespread integration,” he explained. “We envision our sensors being utilized in everything from basic vehicles to high-end premium models.”

CMOS Technology and Manufacturing

TriEye’s SWIR sensors are based on CMOS semiconductor technology. The company is actively collaborating with leading CMOS foundries to establish large-scale production, with a goal of manufacturing millions of units annually.

Bakal also revealed that TriEye is engaged with major automotive manufacturers to integrate sedar into specific vehicle models, though specific details remain confidential.

Expanding Beyond Automotive

While the automotive industry represents TriEye’s primary focus, the company recognizes potential applications in other sectors. These include industrial uses like food sorting and material identification, as well as biometrics and surveillance systems.

Strong Investor Confidence

TriEye’s commitment to SWIR technology has attracted significant investment from prominent companies, including the venture arms of Intel and Porsche. Both firms had previously participated in TriEye’s Series A funding round in 2019.

Funding Details

This latest funding round was spearheaded by M&G Investments and Varana Capital, with contributions from Samsung Ventures, Tawazun SDF, Deep Insight, Allied Group, and Discount Capital. Existing investors, such as Intel Capital, Porsche Ventures, Marius Nacht, and Grove Ventures, also participated.

This investment brings TriEye’s total funding to $96 million.