Mobileye, a Netherlands-based developer of camera-based advanced driver assistance systems for the automotive industry, has agreed to sell $400m of its equity at a company equity valuation of $1.5bn (on a pre-money basis) to five investors, reported to be the car rental business Enterprise Rent-A-Car, together with financial investors BlackRock, Fidelity Management, Wellington Management, and China-based private equity fund Sailing Capital.
Goldman, Sachs & Co. and Morgan Stanley served as the placement agents for the financing. The transaction is expected to close in August.
Previously, MobilEye has raised $157m since 1998, from Goldman Sachs and Motorola amongst others.
Ziv Aviram, chief executive officer and a co-founder of Mobileye, said: “This successful transaction is a testament to the strength of our business and the company’s future prospects. We are excited to have such world-class investors joining forces with us as we move into the next growth phase of our company.”
Headquartered in the Netherlands, Mobileye has a machine vision development center in Israel.