Porsche invests undisclosed amount in TriEye

TriEye’s cameras, which uses short-wave-infra-red sensing technology, can see at night as well as in adverse weather conditions.

Israeli startup TriEye, which has developed short-wave-infra-red sensing technology which enables cars to see in night time as well as in adverse weather conditions, has attracted $19 million in its latest funding round, which also saw the participation of German sports car manufacturer – Porsche.

Porsche’s investment was not disclosed.

On Wednesday, TriEye said the “additional funds will be used for product development and operations as well as team growth”.

Its previous funding round, which took place in May, was led by Intel Capital.

Other investors in the current funding round includes Israeli businessman Marius Nacht and TriEye’s existing investor Grove Ventures.

So far, TriEye has raised $22 million, including a seed investment of $3 million led by Grove Ventures in 2017.

The company’s cameras, scheduled for launch in 2020, could save lives on the roads.

In a statement Porsche Ventures stated, “it seeks strategic investments in businesses relating to customer experience, mobility and digital lifestyle, as well as artificial intelligence, blockchain and virtual and augmented reality”.

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