Elbit Subsidiary BrightWay Raises $25 Million

Imaging company BrightWay Vision Ltd., a subsidiary of Israeli defense contractor Elbit Systems Ltd., has raised $25 million from Japanese lighting equipment manufacturer Koito Manufacturing Co. Ltd. and Magenta Venture Partners, Elbit announced Tuesday. Following the investment, Koito and Magenta will hold a combined 38.5% stake in BrightWay, Elbit said.

Spun out of Elbit in 2011, Haifa-based BrightWay develops a multi-functional vision and ranging system for the automotive industry, using active gated imaging technology.