Porsche AG said Aug. 21 that it has invested an undisclosed sum in road visibility startup TriEye Ltd. to use its proprietary technology to enhance vehicle safety.
The Israeli startup has created a short-wave infrared, or SWIR, sensor technology that improves road visibility in poor weather conditions. The SWIR would enable enhanced safety in vehicles equipped with self-driving functions or assistance systems, the Volkswagen AG-owned performance-car maker said.
In 2018, Porsche bought a minority stake in the Israeli startup Anagog Ltd., a smart parking specialist.
"We see great potential in this sensor technology that paves the way for the next generation of driver assistance systems and autonomous driving functions. SWIR can be a key element: it offers enhanced safety at a competitive price," said Michael Steiner, member of the executive board for research and development at Porsche.
The German company said its investment arm Porsche Ventures participated in TriEye's series A funding round, which was led by venture capital firms Intel Capital and Grove Ventures.
Porsche AG is a fully owned unit of Volkswagen, which is majority owned by Porsche Automobil Holding SE.
