Israel-based autonomous driving software and hardware developer BrightWay Vision has raised $25m in a series B round featuring lighting equipment producer Koito Manufacturing and VC firm Magenta Venture Partners.
The two investors jointly hold approximately 38.5% of the shares in the company, a subsidiary of defence and aerospace technology provider Elbit Systems.
BrightWay is developing software, hardware and sensors that are designed to help autonomous vehicles and advanced driver assistance systems detect objects in harsh weather conditions such as fog, rain or snow.
The series B proceeds will fund the commercialisation of the company’s BrightEye platform ahead of its move into mass production.
Hideharu Konagaya, a senior managing director at Koito, will join BrightWay’s board of directors along with Magenta managing partner Ori Israely in conjunction with the funding.
Konagaya said: “BrightWay Vision’s technology will be integrated with Koito products to offer a complete and reliable all weather, 24/7 solution for automakers. We also look forward to partnering with Elbit Systems and the company’s other investors in making Brightway Vision a game changing solution.”