Israeli startup nabs $22M to back 3-D image sensor that transcends visual barriers
|Vayyar sensor--Courtesy of Vayyar Imaging|
Backers of Israeli startup Vayyar Imaging do not have modest ambitions. They expect that the company's technology could revolutionize cancer detection and easily enable remote vital sign tracking--all that based on the company's 3-D imaging sensor technology that's touted as "making it possible to see through objects."
The $22 million Series B round led by Walden Riverwood will go to scaling up the enterprise offerings of Vayyar worldwide. The company was launched in December 2011 and its technology is already in use in multiple industries and by Fortune 500 companies.
"3-D imaging sensor technology is the future, and Vayyar is leading the way with its truly revolutionary technology," said founder and chairman of Walden International Lip-Bu Tan in a statement. "Vayyar's tremendous growth in the enterprise market validates that there is a very large demand globally for solutions that empower people to improve their health, safety and quality of life using mobile, low-cost, safe 3-D imaging sensors."
Vayyar has raised a total of $34 million. Battery Ventures led its Series A financing and also participated in the Series B alongside other existing investors including Bessemer Venture Partners, Israel Cleantech Ventures (ICV) and Amiti Ventures.
The company's 3-D image sensors are designed to see through materials, objects and liquids. They can also detect motion and speed. The technology is compact, mobile and based on low-power radio frequency transmissions. The expectation is that this technology will facilitate imaging practically anywhere, at any time.
"We look forward to advancing Vayyar Imaging's technologies into a new era where low-cost imaging systems can solve major challenges in a variety of different markets--including breast cancer screening, monitoring aging populations for their safety, saving water through accurate irrigation, and so much more," said co-founder, chairman and CEO of Vayyar Imaging Raviv Melamed.
He was previously VP of the Intel Architecture Group and GM of Intel's Worldwide Mobile Wireless Group, having joined the company in 2004 as part of its acquisition of Israeli fabless semiconductor company Envara.
- here is the announcement
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