GLy New Mobility Fund, a global mid-to-late-stage private equity fund backed by Zhejiang Geely Holding Group, has completed an investment in Vayyar Imaging, a 4D imaging radar-on-chip solution provider based in Israel.
The US$108-million funding round was led by Koch disruptive technology and joined by investors including Atreides Management, Battery Ventures, Bessemer Ventures, More VC, Regal Four, and Claltech.
Vayyar has developed the world’s most advanced 4D imaging radar solution which can see through walls and objects, map environments, and track movements in real-time, without invading one’s privacy.
Initially developed to provide a more effective way for early-stage breast cancer detection, Vayyar’s chip solution has demonstrated its cost and performance capabilities and is now used in numerous sectors including automotive, smart home, elderly care, retail, security and medical.
“GLy New Mobility Fund invests with purpose and develops genuine investment partnerships with outstanding growth companies,” said Anny Lin, Co-CEO of GLy Capital. “With our networks and Vayyar’s technology, we are confident of creating more meaningful opportunities for our investors.”
Hrvoje Krkalo, Co-CEO of GLy Capital, described Vayyar’s automotive offering as world class, and their applicability and reach into other industry verticals — such as elderly care, smart home, retail, medical and others — as impressive.
“We look forward to leveraging the GLy network for relevant opportunities for our business”, said Raviv Melamed, founder and CEO of Vayyar.