Koch Disruptive Technologies is leading a Series E financing round in Vayyar Imaging, a global leader in 4D imaging radar, as the Israel-based company looks to continue growing with new supply contracts and partnerships as well as offices in new markets in the Americas, Europe, the Middle East and Asia.
BY THE NUMBERS: The $108 million figure brings the company’s total funding to over $300 million. It also brings the company’s total valuation to more than $1 billion, making the Israel-based startup a “unicorn.”
- Other participants in the latest round included existing investors Battery Ventures, Bessemer Ventures, More VC, Regal Four and Claltech, as well as new backers GLy Capital Management and Atreides Management LP.
DETAILS: Founded with an initial goal to help detect early-stage breast cancer with RF technology, Vayyar now provides solutions in multiple industries, including automotive, senior care, public safety and more.
- The latest investment enables Vayyar to expand across multiple verticals, including introducing a suite of machine learning solutions that will integrate into smart building, robotics, retail and public safety solutions.
HOW IT WORKS: Vayyar’s solutions are powered by a leading-edge system-on-chip proprietary software stack and machine learning algorithms.
- Its Vayyar Care remote monitoring system is integrated with top nurse call systems, including Amazon’s Alexa Together service, protecting the elderly population with automatic fall detection as well as data driving behavioral analytics.
- Vayyar makes 4D imaging radar-based platforms for in-cabin, advanced driver-assistance systems (ADAS) and motorcycles.
- The company’s motorcycle (advanced rider-assistance system, or ARAS) platform is in mass production for Piaggio Group’s motorbikes, enabling greater safety awareness for a more at-risk driving population. That’s in addition to securing supply contracts with automakers from Japan and Vietnam and speaking with nearly every other major OEM and supplier for in-cabin and ADAS domains.
WHY KOCH INVESTED: “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.”
WHAT THEY’RE SAYING: “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.”
GO DEEPER: Read more about the deal from Bloomberg, and learn more about Vayyar’s technology and KDT’s portfolio.