Investors this week showed they are banking on Israeli video technology and blue-and-white sensors to enable autonomous vehicles with $59 million in investments.
Kaltura, Israel’s leading video technology provider, announced earlier this week that it has secured a $50 million pre-IPO funding from Goldman Sachs’ Private Capital Investing group.
“Video is booming. It is the favorite data type for communication, collaboration, teaching & learning, marketing, and entertainment. Kaltura is in a unique position to capitalize on this huge market opportunity since it provides the broadest set of video products and capabilities to customers across all industries,” said Ron Yekutiel, Kaltura Chairman and CEO. “We are excited to be working with Goldman Sachs as we continue our journey to videofy companies and organizations all around the world.”
Kaltura — named ‘One of 2016’s 10 Most Innovative Companies in Video’ by FastCompany — says it will use the new capital to extend its footprint across all six continents.
Meanwhile, Innoviz Technologies, a startup developing advanced sensors and systems enabling fully autonomous vehicles, emerged from stealth mode and announced it raised $9 million in Series A financing round.
Investors include Zohar Zisapel, Vertex Venture Capital, Magma Venture Partners, Amiti Ventures and Delek Investments.
“The car industry is gearing up towards a revolution by the introduction of autonomous vehicles,” said Omer Keilaf, co-founder and CEO of Innoviz. “The ability to transform this vision into a reality depends on performance and cost. Current approaches compromise passenger safety by failing to include LiDAR sensors as part of the system, due to cost and performance limitations. Our groundbreaking technology will make our HD-SSL accessible to mass market, positioning Innoviz as a leading force in the manifestation and acceleration of this revolution.”
Innoviz says its product solves the market conundrum of providing high performance LiDAR laser-based sensors in terms of technological challenges and costs.
“Innoviz introduces a solution that solves a major performance and cost issue in existing technologies for Autonomous Driving,” said Zohar Zisapel, investor, co-founder and Chairman of the Board at Innoviz. “I always look to invest in companies leveraging advanced technologies to solve real pains for their customers and the lack of cost effective LiDAR is definitely a pain point for the Autonomous Vehicles industry. The company was established by a group of extraordinary talented founders who are building an exceptionally strong R&D team and I am confident in their ability to revolutionize this space.”
Innoviz was founded in 2016 by Omer Keilaf, Oren Rosenzweig, Oren Buskila and Amit Steinberg. All founding members served in the elite technological unit of the Intelligence Corps in the Israel Defense Forces.