Porsche has announced an investment in Israeli start-up TriEye and has acquired a minority stake in the company.
The startup develops a sensor technology for short-wave infrared (SWIR). It enhances safety in vehicles fitted with assistance systems or autonomous driving functions by improving the ability to see in weather conditions where visibility is poor, such as dust, fog, murky conditions or rain. The company’s unique semi-conductor design uses patent-pending technology that makes it possible to manufacture SWIR HD cameras at a fraction of their current cost.
Porsche through Porsche Ventures seeks strategic investments in business models relating to customer experience, mobility and digital lifestyle, as well as in future technologies such as artificial intelligence, blockchain and virtual and augmented reality. Through its venture capital activities, the sports car manufacturer Porsche invests in new companies that are in the early and growth phases. In addition to TriEye, Porsche has already invested in the Israeli AI start-up, Anagog, and has also invested double-digit millions in the venture capital funds, Magma and Grove Ventures.
“TriEye is a promising technology company led by an exceptionally strong team with experience in the areas of nano-photonics, deep learning and the development of semi-conductor components,” says Michael Steiner, Member of the Executive Board for Research and Development at Porsche AG. “We see great potential in this sensor technology that paves the way for the next generation of driver assistance systems and autonomous driving functions. SWIR can be a key element: it offers enhanced safety at a competitive price.”
Source: Press Release