Vayyara company developing radar image sensor technologies today announced that it raised $108 million in a Series E round led by Koch Disruptive Technologies with participation from GLy Capital Management, Atreides Management LP, KDT, Battery Ventures, Bessemer Ventures, More VC, Regal Four and Claltech. The round brings Vayyar’s total amount raised to more than $300 million, which CEO Raviv Melamed says is being done to expand into a variety of industries and a “family” of machine learning-powered sensor solutions for robotics, retail, public safety and ” smart” building products. †
“We are excited and proud to continue our partnership with existing investors, including KDT, as well as additional lenders who are working with us for the first time,” Melamed said in a statement. “During a challenging period for the global economy, this new round of financing is a clear confirmation of our mission and a clear vote of confidence in the strength of our technology and the strategic agility of our organization.”
Founded in 2011 by Miri Ratner, Naftali Chayat and Melamed, who was previously VP of Intel’s architecture group, Vayyar initially developed its sensor technology to provide an alternative way to screen for early-stage breast cancer. Using MIMO antennas, short for “multiple input, multiple output”, Vayyar’s products can provide a high-resolution map of their environment by sending and receiving signals from dozens of antennas.
Vayyar later expanded his “radar-on-chip” technology from health technology to a number of other sectors, including automotive, senior care, retail, smart home and commercial real estate. Vayyar sells Vayyar Care, a fall detection system for monitoring people at higher risk of trips and falls in bedrooms, bathrooms and other living areas. In the automotive industry, Vayyar offers solutions for collision warning, parking assist, adaptive cruise control, seat belt detection and automatic braking. And in construction, Vayyar supplies a hand-held sensor called Walabot for detecting leaking pipes behind walls.
Vayyar competes with Entropix, Photonic Vision, Noitom Technology, Aquifi and ADI, among others, who offer their own flavors of MIMO-based sensors. But the company has long claimed that its software and algorithms set it apart from the competition. Apparently, they were impressive enough to convince Amazon to partner with Vayyar for fall detection on Alexa Together, a subscription service that remotely monitors and assists family members in their homes.
In recent years, Vayyar has established customer relationships with brands such as Piaggio Group, which will deploy Vayyar’s sensors on its future motorcycles. The company also claims to have supply contracts with automakers from Japan and Vietnam, as well as a joint venture agreement with Haier subsidiary HCH Ventures to leverage the latter’s “senior care technology” in China-based companies.
Vayyar specifically flagged ambitions in the Asia-Pacific market, noting in a press release that it has explicitly engaged China International Capital Corporation Limited, a Beijing-based investment firm, as its lead financial advisor for the Series E to “expand the reach of investors.” in China to support.” (One of Vayyar’s newer offices is in China.) Somewhat unusually, Vayyar’s Series E came in just below the Seres D, totaling $109 million. It’s unclear if the valuation has changed — gotechbusiness.com last reported that Vayyar “ten north” was valued at $600 million.
We have reached out to Vayyar for more information and will update this post if we hear anything.