Drone Vision Startup Sightec Raises $2 Million

Tel Aviv-based computer vision startup Sightec (Israel) Ltd. has raised $2 million in seed from Tel Aviv-based Sherpa InnoVentures and London-based Playfair Capital, Sightec announced Monday.

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Founded in 2010, Sightec develops an artificial intelligence and computer vision-based spatial navigation system for fully or partially autonomous aerial vehicles. The system allows the vehicle to analyze its surroundings without depending on exterior communication, including cellular networks or GPS.

The company also announced the appointment of Assaf Shechner as vice president of product. Before joining Sightec, Shechner was the director of products at Jerusalem-headquartered automotive chipmaker Mobileye, which develops computer vision-based safety systems for cars.

Sigtec currently employs 16 people and intends to use the funding to expand its team and for research and development purposes. Including previous research grants, the company has raised over $5 million in funding to date.