Today (Tuesday) Canadian company LeddarTech, which develops high-performance LIDAR solutions for the ADAS (advanced-driver-assistance-systems) and AV (autonomous vehicle) industry, announces that it has acquired Israeli startup VayaVision. The Israeli startup developed a sensor fusion solution that combines the AV’s different technologies to create a complete 3D image. The acquisition details have yet to be disclosed but estimated to be a multi-million dollar merger.
Upgrading AV sensor capabilities
VayaVision developed technology that enables a complete 3D road image by fusing the sensorial capabilities of all the different “eyes” of the autonomous vehicle, including LIDAR, radar, and cameras. The company uses a proprietary algorithm that processes the collected data from the different sensors and forms a more accurate landscape visual for the AV. VayaVision further claims that its system can even enrich LIDAR optics bringing the image quality from low to HD-like.
LeddarTech is confident that integrating the Israeli startup’s sensor fusion technology will significantly reduce customer costs and risks while accelerating the Canadian company’s time-to-market by creating a complete software solution that can process multiple sensor outputs without relying on an operating system or hardware.
VayaVision CEO and co-founder, Ronny Cohen spoke about the exit, saying that “by combining technologies, LeddarTech will be able to provide the market with a one-of-a-kind comprehensive platform that will accelerate the integration scope and rate of ADAS and AV systems with a clear cost and safety advantage.” Cohen further explained in a talk with Geektime that “the company will continue to operate regularly but with expanded capabilities coming from the merger with a market giant and exposure to new customers.” The Israeli startup will become a subsidiary of the Canadian company.
Charles Boulanger, CEO of LeddarTech notes that “The existing single sensor solutions in the market do not provide the performance, flexibility, scalability,and cost-effectiveness that the market needs for mass deployment. Our LeddarEngine platform built on an open software architecture combined with VayaVision sensor fusion and perception enables LeddarTech to address customers’ need for sensing solutions that are hardware agnostic, scalable, and adaptable to any vehicle and sensor configuration.”
Founded in 2016 by CTO Dr. Youval Nehmadi and Ronny Cohen, the company has 32 employees based out of its Israeli headquarters. VayaVision last funding round brought in $8 million led by Japanese vehicle manufacturer Mitsubishi among others.