Porsche acquires stake in Israeli start-up TriEye

German car manufacturer Porsche has acquired a minority stake in Israeli road visibility start-up TriEye.

TriEye will utilise the funds towards product development, operations and team growth.

The company established short-wave infrared sensing technology that enables visibility during dark and adverse weather conditions.

The technology enhances visibility in vehicles equipped with assistance systems and autonomous driving functions.

TriEye’s semi-conductor design uses technology that allows the company to manufacture cost-efficient short-wave infrared (SWIR) HD cameras, designed to save lives on the roads.

TriEye plans to launch initial samples of the camera next year.

Porsche research and development executive board member Michael Steiner said: “TriEye is a promising technology company led by an exceptionally strong team with experience in the areas of nano-photonics, deep learning and the development of semi-conductor components.

“We see great potential in this sensor technology that paves the way for the next generation of driver assistance systems and autonomous driving functions. SWIR can be a key element: it offers enhanced safety at a competitive price.”

Porsche Ventures has invested in TriEye’s sensor technology as part of a Series A financing round led by Intel Capital, alongside Israeli venture capital fund Grove Ventures.

TriEye co-founder and CEO Avi Bakal said: “Our mission is to save lives and reduce risks of accidents in all weather and lighting conditions.

“The expansion of our Series A round and the addition of Porsche as a strategic investor serves as a further proof that SWIR is a critical component in the necessary sensor fusion solution to enable safer and better-advanced driver assistance systems and autonomous vehicles.”

In June last year, Porsche introduced an electric car charging mobile app and service that incorporates all aspects of the charging process.