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Porsche invests $2 mn in Israeli AI tech startup

Thursday - August 22, 2019 4:24 pm , Category : SCIENCE & TECHNOLOGY
Jerusalem, Aug 22 (IANS) German luxury auto manufacturer Porsche has invested $2 million in Israeli startup TriEye, which has developed visibility enhancement technology in harsh weather conditions, the two companies said.
TriEye, founded in 2017 and headquartered in the coastal city of Tel Aviv, has developed an artificial intelligence (AI) sensor technology for short-wave infrared (SWIR).
It enhances safety in vehicles fitted with assistance systems or autonomous driving functions by improving the ability to see in weather conditions where visibility is poor, such as rain, fog, dust or murky conditions, Xinhua news agency reported on Wednesday.
The Israeli company's unique semi-conductor design uses patent-pending technology that makes it possible to manufacture SWIR HD cameras at a fraction of their current cost. These SWIR cameras are expected to reach the market by 2020.
The Israeli solution is based on nearly a decade of advanced nanophotonics research, performed by Uriel Levy, TriEye's CTO and professor at the Hebrew University of Jerusalem.
"TriEye is a promising technology company led by an exceptionally strong team with experience in the areas of nanophotonics, deep learning and the development of semi-conductor components," Michael Steiner, member of the executive board for R&D at Porsche said.

--IANS ksc/niy/bg