Israeli Nanotech Startup Gauzy Raises $10 Million in Series C Round led by Hyundai
Auto giant leads funding for smart window manufacturer together with Blue Red partners VC, and Avery Dennison
Udi Etsion | 14:03 23.04.2020
Hyundai, the most popular vehicle brand in Israel is investing in Israeli nanotech startup Gauzy Ltd., leading a $10 million Series C funding round. Other companies that invested in the Tel Aviv-based company that manufactures light-adjusting windshields among its line of light control glass technology products, include Blue Red partners VC, and Avery Dennison. The coronavirus (Covid-19) crisis is not stopping investments in the autotech industry. Gauzy’s product enables active and monitored control over vehicle lighting, using dynamic shading technology to lighten or darken car windows. At a press of a button, the driver initiates an electrical current that passes through tiny UV-cured films embedded in the glass that switch it from opaque to transparent. factories in Tel Aviv and Stuttgart, Germany. Eleven manufacturers are already in the process of using Gauzy’s product in their future models, with the first expected to enter mass production in 2021. “Our technology’s first use will be in windshields,” said Gauzy’s CEO Eyal Peso. “Some manufacturers will offer a sunroof using our technology and others will make it available as a luxury add-on.” innovation and investment center in Tel Aviv.