Intel Capital, the corporate venturing arm of semiconductor and data technology producer Intel, has led a $17m funding round for Israel-based autonomous vehicle sensor developer TriEye, VentureBeat has reported.
The round included private investor Marius Nacht and Grove Ventures, the venture capital firm that led the company’s $3m seed round in January 2018.
Founded in 2017, TriEye is developing a high-definition shortwave infrared camera that enables connected and autonomous vehicles to detect objects in adverse conditions such as fog, poor lighting, bad weather or while driving at night.
Avi Bakel, co-founder and chief executive of TriEye, told VentureBeat the capital will be used to expand strategic partnerships with automotive partners and to accelerate product development.