Israel-based 4D radar technology developer Vayyar Imaging raised $109m yesterday in a series D round led by Koch Disruptive Technologies, the corporate venturing arm of petrochemical group Koch Industries.
Claltech, a subsidiary of investment and holding group Access Industries, also took part in the round, along with Regal Four, Battery Ventures, Bessemer Venture Partners (BVP), Israel Cleantech Ventures (ICV), Walden Riverwood and ITI Venture Capital Partners.
Vayyar provides imaging sensors for use in 4D radar systems that can track movement while effectively seeing through walls or objects. The technology is utilised in areas such as smart home, robotics, retail, medical imaging, automotive systems and radio frequency testing.
Sources close to the deal told TechCrunch the funding was secured at a valuation above $600m. It will be used to strengthen Vayyar’s technology and support international growth.
The company has now raised $188m in total, $45m of which was received in a December 2017 series C round co-led by Walden Riverwood and ITI that included Claltech, BVP, Battery Ventures, ICV and Amiti Ventures.
Walden Riverwood had previously led Vayyar’s $22m series B round in 2015, participating alongside existing investors BVP, Battery Ventures, ICV and Amiti Ventures.
Chase Koch, president of Koch Disruptive Technologies, said: “Advancements in imaging sensors are vital as technology continues to disrupt all aspects of society.
“We see incredible potential in combining Vayyar’s innovative technology and principled leadership team with Koch’s global reach and capabilities to create breakthroughs in a whole range of industries.”
