Porsche invests in TriEye for AVs

Porsche has invested in Israeli startup TriEye to improve vehicle sensing for advanced driver assistance systems (ADAS) and autonomous vehicles (AVs).

TriEye’s short-wave-infra-red (SWIR) sensing technology enables vision in adverse weather and at night.

The Israeli company has expanded its Series A round to US$19 million with Porsche’s investment, the additional funding planned for ongoing product development and operations, and team growth.

TriEye announced a Series A funding round in May, led by Intel Capital. Other investors in the round include Marius Nacht and TriEye’s existing investor Grove Ventures. Since its inception, TriEye has raised US$22 million.

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 invests in new companies that are in the early and growth phases.

Formed in 2017, TriEye has developed an HD SWIR camera that is a smaller size, higher resolution, and a fraction of the price of many current technologies.

The company’s CMOS-based Raven camera, whose initial samples are due to launch in 2020, is designed to save lives on the roads. Once integrated, the camera will allow ADAS and AVs to achieve unprecedented vision capabilities under common adverse weather and low-light conditions such as fog, dust or at night.

Porsche research and development executive board member Michael Steiner says the company sees great potential in this sensor technology that paves the way for the next generation of ADAS and AV functions.

TriEye plans to exhibit at the IAA Conference in Frankfurt, September 11-13, and at the AutoSens conference in Brussels, September 17-19.