Third Point Ventures Backs Startup Oryx Vision
The Israel-based startup developing autonomous cars technology raised $50 million. Oryx Vision invented a special Low-Cost LiDAR, vital for Auto AI
Meir Orbach | 13:48 10.08.2017
Israel-based low-cost LiDAR startup Oryx Vision raised $50 million, the company said Tuesday. New York-based hedge fund Third Point Ventures co-led the funding round, along with San Francisco-based venture capital firm Walden Riverwood Ventures.
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Founded in 2009, Oryx develops a light detection and ranging camera system (LiDAR) for autonomous cars. Headquartered in Petah-Tikva, 6 miles east of Tel-Aviv, it raised $67 million to date. The company expects to ship units for car-mounted testing in the second half of 2018.
Oryx intends to use the fund to expedite research and development and advance its relationships with automakers and part suppliers, the company said in a press release.
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