Global leader in 4D imaging radar expands investor network on the back of new supply contracts and partnerships.
TEL AVIV, Israel, June 6, 2022 /PRNewswire/ -- Vayyar Imaging, a global leader in 4D imaging radar, today announced that it has finalized a USD 108 million Series E financing round led by Koch Disruptive Technologies (KDT), bringing the company's total funding to over USD 300 million.
The new round includes first-time Vayyar backers GLy Capital Management and Atreides Management LP, alongside existing investors including KDT, Battery Ventures, Bessemer Ventures, More VC, Regal Four, and Claltech. To support investor outreach in China, Vayyar engaged China International Capital Corporation Limited (CICC) as its lead financial adviser.
Founded with a vision of detecting early-stage breast cancer using RF technology, Vayyar has since expanded its business into senior care, automotive, retail, public safety and other industries. The company provides solutions powered by its leading-edge system-on-chip, proprietary software stack, and breakthrough Machine Learning algorithms.
In the automotive space, Vayyar manufactures 4D imaging radar-based platforms that transform safety across the in-cabin, ADAS and motorcycle (ARAS) domains. The company's ARAS platform is in mass production for deployment on Piaggio Group's motorbikes, providing exceptional safety for the world's most at-risk road users. Vayyar has also secured supply contracts with automakers from Japan and Vietnam and is in advanced engagements with almost every other OEM and supplier for both in-cabin and ADAS.
In senior care, the company offers Vayyar Care, a unique remote monitoring solution, integrated with the world's leading nurse call systems, that protects the aging population with automatic fall detection and data that drives predictive behavioral analytics. Vayyar recently signed a Joint Venture agreement with Haier subsidiary HCH Ventures, leveraging its senior care technology to address the 4 trillion yuan (625B USD) "silver tech" market in China. Vayyar has also established a large-scale partnership with Amazon for remote health, safety and security monitoring.
"KDT is excited to help further Vayyar's vision to improve the health and safety of people's lives at a global scale," said Brett Chugg, senior managing director of KDT. "Their 4D imaging technology is transforming the medical, smart home, elderly care, and automotive markets here in the U.S. and around the world. We look forward to helping accelerate their continued growth."
After opening new offices in five additional territories, including Japan and China, Vayyar will continue to expand its activities across numerous verticals and introduce a family of Machine Learning-enabled imaging solutions that are being integrated with the world's leading smart building, robotics, retail and public safety solutions.
"We are pleased and proud to progress our partnership with existing investors including KDT, as well as additional backers which are joining forces with us for the first time," said Raviv Melamed, co-founder and CEO of Vayyar Imaging. "During a challenging period for the global economy, this new funding round is a ringing endorsement of our mission and a clear vote of confidence in the strength of our technology and the strategic agility of our organization."
With a strong sales pipeline and a world-class patent portfolio, Vayyar will continue cementing its leadership in core verticals, expanding its activities in additional industries, and increasing its physical presence across the Americas, EMEA and East Asia.
About Koch Disruptive Technologies
Koch Disruptive Technologies (KDT) is a unique investment firm, partnering with principled entrepreneurs who are building transformative companies. KDT provides a flexible, multi-stage investment approach. KDT works with companies that can help Koch transform its capabilities, disrupt existing businesses or expand into new platforms. KDT is a subsidiary of Koch Industries, one of the largest privately held companies in the world, with estimated revenues exceeding $125 billion and presence in over 70 countries. KDT helps its partners unlock their full potential by bringing Koch's full capabilities and network to them, structuring unique capital solutions and embracing a long-term, mutual benefit mindset.
About Vayyar Imaging
Vayyar, the global leader in 4D imaging radar, supplies the world's most advanced radar-on-chip platforms to gather life's essential data, providing solutions for senior care, automotive, security, smart home, robotics, and more, while maintaining privacy at all times. Vayyar's mission is to deliver the next generation of sensing technology that is miniature, affordable, and versatile enough to impact everyone's lives, enabling a safer world.
Visit vayyar.com to learn more.
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