Intel Capital leads $17m Series A investment in Israeli startup TriEye

TriEye-founders from-left-to-right-Prof.-Uriel-Levy-CTO-Avi-Bakal-CEO-and-Omer-Kapach-VP-Research-and-Development

Israeli startup TriEye on Wednesday announced that it has raised $17 million in a Series A funding round, led by Intel Capital, the global investment arm of US tech giant Intel Corporation.

Other investors who participated in the current round of funding include Marius Nacht, co-founder of Check Point Software Technologies, and TriEye’s existing backer Grove Ventures, headed by TriEye chairman Dov Moran, the inventor of the USB flash drive and co-founder of M-Systems.

TriEye, whose innovative Short-Wave-Infra-Red (SWIR) sensing technology is able to see in adverse weather and night-time conditions, will use the funding to expedite its product roadmap for HD SWIR solutions, including proprietary sensing algorithms.

According to a statement, this round brings the company’s total fundraising to $20 million, that includes a seed investment of $3 million led by Grove Ventures in November 2017.

TriEye was founded in 2016 by Avi Bakal, Omer Kapach and Uriel Levy, after nearly a decade of advanced nano-photonics research by Levy at the Hebrew University in Jerusalem.

While TriEye’s primary target market is the automotive industry, its technology is highly applicable to a wide range of other sectors, including mobile, industrial, security and optical inspection. The company aims to address challenges and opportunities in these fields in the years to come.

As part of the investment, Yair Shoham, Intel Capital Israel’s Managing Director, will join TriEye’s board.

“As the automotive industry transitions to autonomous driving, demand for sensor technologies is expected to grow rapidly, said Shoham. “TriEye technology has the potential to enhance traditional camera functionalities by increasing performance in low visibility conditions in a way that complements vision-based camera sensor technologies.”

Intel Capital backs innovative technology startups and companies worldwide. It invests in a range of technology startups and companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. To date, Intel Capital has made 1,308 investments, according to Crunchbase data.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.