Vayyar Imaging Announces $45.6 Million Series C Financing
Israeli company, Vayyar has created sensors which quickly and easily look into objects or liquids of any defined volume and detect even the slightest anomalies and/or movements. Providing a look beyond human vision, these sensors have expanded across industry sectors, including construction, smart homes, IoT, personal health, automotive, agriculture and more. Their imaging sensors use RF technology to create 3D images of what is happening around you in real time without using cameras or optics. Their technology has wide reaching applications- from being able to detect cancer in breast tissue to monitor vital signs of passengers who experience a car crash.
This week Vayyar announced that they have closed a $45 mil Series C financing round co-led by Walden Riverwood and ITI with additional funding from Claltech and follow-on investment from Battery Ventures, Bessemer Ventures, Israel Cleantech Ventures, and Amiti, bringing total capital raised to date to $79 million USD.
Raviv Melamed, co-founder, CEO, and Chairman of Vayyar, said: “Our 3D imaging sensors transform elder care, autonomous vehicles, medical, agriculture, and retail by bringing innovative and exciting solutions to these markets. It is amazing to see how the ability to look into objects can help humanity in so many ways. We currently work in collaboration with industry-leading companies to create applications that address some of their toughest challenges. The target of this round is to allow us to grow even faster than before.”
Vayyar’s sensors have expanded across industry sectors, including smart home, automotive, retail, robotics, medical, construction, agriculture and more. Vayyar’s mission is to help people worldwide improve their health, safety, and quality of life. Because of the high demand for Vayyar’s technology by a wide range of industries, the company is growing rapidly. The funds which they have raised will be used as growth capital to expand to new industries, grow its global team and diversity its sensing product offerings.
Lip-Bu Tan, Chairman of Walden International and Managing Director of WRV, said: “Vayyar’s technology has disruptive potential across a myriad of different industries. Vayyar is growing fast, and we look forward to helping Vayyar impact the automotive and smart home industries in a similar way.”
Roy Oron, Founder of ITI, added: “Vayyar is a cutting-edge player in the three-dimensional imaging technology space. Our investment exemplifies our commitment as an entrepreneurial capital partner for extraordinary Israeli technology companies with exceptional management teams and proven technology. ITI is proud to join the Vayyar team and their shareholders to accelerate its already robust forward momentum.”
Vayyar is working with top tier Fortune 500 companies in each of our major verticals: smart home, automotive, robotics, retail, and testing equipment. In the near future we will be seeing their sensors incorporated into everything from autonomous cars to smart shelves and eldercare.
With a trajectory that is heading for nonlinear, expansive growth. Vayyar’s technology is soon to be part of a myriad of products that people will be using in their daily lives