Canadian autonomous car sensor platform developer LeddarTech announced today that it is acquiring Israeli startup VayaVision, which applies AI and computer vision algorithms to raw data fused from radar, lidar and camera to build an accurate 3D environmental model. Financial details about the deal were not disclosed but according to a source close to the deal, the acquisition was for several tens of millions of dollars.
VayaVision was founded in 2016 by Dr Youval Nehmadi and Ronny Cohen and has to date raised $8 million from Mizmaa Ventures and other investors as well as a $4 million grant from the EU European Innovation Council. The company has 32 employees, all of them in Israel, and will continue to operate as an independent unit in close cooperation with LeddarTech teams worldwide.
Cohen told "Globes" "In the field of autonomous driving there are sensors - cameras, radar, lidar - we merge the information from all the sensors into a color image, unified and a complete world and from this we undertake detection. This brings about better performance at lower cost."
