Autonomous Vehicle Startup Vayavision Receives $2.77 Million Grant

Autonomous vehicle technology developer VayaVision Sensing Ltd. has received a €2.45 million ($2.77 million) grant from the European Commission’s European Innovation Council (EIC), the company announced Wednesday.

Founded in 2016 and headquartered in central Israel, Vayavision develops a data processing system compatible with a variety of autonomous sensor systems, cameras, radars, and LiDAR. Vayavision’s system is designed to provide precise 3D imaging of a vehicle’s environment. Mitsubishi UFJ Capital Co., Ltd., and LG Electronics have previously invested in the company.