Israeli 3-D Startup Draws $22M from Walden & Co-Investors
A group of venture capital investors from Israel, Asia and San Francisco have teamed up to finance Tel Aviv-based Vayyar Imaging, a 3D-imaging sensor company whose technology makes it possible to see through objects.
Vayyar drew a $22 million Series B funding round led by Walden Riverwood, with participation from Series A lead investor Battery Ventures, and existing investors including Bessemer Venture Partners, Israel Cleantech Ventures and Amiti Ventures. The total capital raised is $34 million for Vayyar Imaging, which is allocating the funds to scaling up globally.
Vayyar’s sensor technology stands to revolutionize cancer detection, robotics, and smart home industries. Its sensors see through skin and tissue to detect breast or other cancer masses, look through walls to detect structural foundations, and can track a person’s location and vital signs as they move through a Smart Home.
Launched in December 2011, Vayyar Imaging is being used top Fortune 500 companies and is expanding into multiple industries.
“Investing in Vayyar Imaging was an obvious choice. 3D imaging sensor technology is the future, and Vayyar is leading the way with its truly revolutionary technology,” said Lip-Bu Tan, Founder, and Chairman, Walden International. “Vayyar’s tremendous growth in the enterprise market validates that there is a very large demand globally for solutions that empower people to improve their health, safety and quality of life using mobile, low-cost, safe 3D imaging sensors.”
Vayyar’s sensors see through materials, objects and liquids and can scan the object and create a 3D image of its content. The sensors can also detect motion, speed and track multiple people in large areas. Vayyar’s technology is compact, mobile and based on low power radio frequency transmissions, and will make imaging technology available anytime, anywhere.
“I am proud and honored to work with such a passionate, innovative and multi-disciplinary team. We look forward to advancing Vayyar Imaging’s technologies into a new era where low-cost imaging systems can solve major challenges in a variety of different markets – including breast cancer screening, monitoring aging populations for their safety, saving water through accurate irrigation, and so much more,” said Raviv Melamed, co-founder, CEO and Chairman, Vayyar Imaging.
“Vayyar’s team is developing scientifically significant technology that is not only improving some companies’ bottom lines, but truly improving the quality of life for people worldwide,” said Scott Tobin, General Partner, Battery Ventures. “We are excited to continue supporting such impactful innovation.”
Chairman and CEO Raviv Melamed founded Vayyar with Vice President, Research and Development, Miri Ratner and CTO, Naftali Chayat. Melamed previously held the role of Vice President and General Manager, Mobile Wireless Group at Intel.
Vayyar Imaging plans to unveil its latest technology at the upcoming 2016 Consumer Electronics Show January 6-9 in Las Vegas.