– ISRAEL, Tel Aviv – Vayavision, a leading provider of raw data fusion and perception systems for autonomous vehicles, today announced the closing of $8M in funding. The seed round was led by Viola Ventures, Mizmaa Ventures, and OurCrowd, with strategic investment from Mitsubishi UFJ Capital Co., ltd. (MUCAP), and LG Electronics
Vayavision’s advanced architecture enables precise 3D perception of a vehicle’s environment using a fusion of raw data from multiple sensors: LiDAR, camera and RADAR. Integration of deep understanding of the data through machine vision algorithms and Deep Neural Networks provide better cognition essential for highly autonomous cars. Vayavision s solution can enhance even low-resolution LiDAR and RADAR to HD-like quality.
“Consumers are seeking the safest and most comfortable autonomous vehicle experience – and manufacturers are looking out for their bottom lines,” said Ronny Cohen, CEO and co-founder of Vayavision. “In the race to full autonomy, Vayavision s technology enables AVs to have less missed detections and lower rates of false alarms, even when paired with low-cost sensors, allowing OEMs using our system to save money on those key components.”
“Most current generation autonomous driving solutions are based on ‘Object Fusion’ architecture, in which each sensor registers an independent object, and then must reconcile which data is correct,” said Youval Nehmadi, CTO and co-founder of Vayavision. “This provides inaccurate detections and results in a high rate of false alarms. The industry has recognized that to reach the required levels of safety, more advanced perception paradigms are needed – such as raw data fusion.”
“Vayavision’s innovative product shows a lot of promise to the market,” said Catherine Leung of Mizmaa Ventures. “We are seeing the major automotive players struggle to make object fusion safe enough as well as affordable. Vayavision s raw data fusion is an exciting solution full of potential to hasten the adoption of self-driving vehicles.”
Funding will catapult Vayavision into a year of high growth, focused on developing customer engagement, as well as marketing and building partnerships with leading OEMs and Tier 1 suppliers around the world.
“We at Mitsubishi UFJ Capital are proud to support Vayavision who has proved their product’s appeal to major OEMs around the world,” commented Mr. Muneki Handa, President of Mitsubishi UFJ Capital. “To reach commercial level of autonomous driving, OEMs need a solution that integrates multiple sensors from various venders. Vayavision understands that and has developed a solution that fits the bill.”
Vayavision is a leading raw data fusion and perception system for autonomous vehicles. Compatible with all autonomous sensor systems, Vayavision’s patented autonomous driving technology combines camera, LiDAR, and radar input to provide a full environmental model of the driving scenario, including lane detection, object classification and tracking, traffic and road sign recognition, and free space analysis. Working with OEMs and Tier 1’s globally, Vayavision is paving the way for comprehensive autonomous vehicle cognition.
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