Israel’s self-driving car technology startup Oryx Vision raises $50m

Oryx
Photo: Oryx website

Israel’s Oryx Vision, which is developing object sensors for self-driving cars, said on Tuesday it raised $50 million in a second funding round led by Third Point Ventures and Walden Riverwood Ventures (WRV).

Union Tech Ventures, and existing investors Bessemer Venture Partners, Maniv Mobility, and Trucks VC also participated in the round, Oryx said.

The company has raised $67 million in two funding founds in the past 15 months.

Oryx will use the new funds to accelerate its development activities and to intensify commercial engagements with car OEMs, tier-1 suppliers, and technology players.

It expects to ship units for car-mounted testing in the second half of 2018.

Oryx is developing light sensing technology for autonomous vehicles to identify debris and other objects on the road using silicon-made microscopic antennas to detect light wave frequencies.

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Reuters