Source: Media Outreach
HONG KONG SAR – Media OutReach – 8 June 2022 – GLy New Mobility Fund, a global mid-to-late-stage private equity fund backed by Zhejiang Geely Holding Group, today announced that it has completed the investment in Vayyar Imaging, a leading 4D imaging radar-on-chip solution provider based in Israel. The US$108million round was led by Koch disruptive technology and joined by investors including Atreides Management, Battery Ventures, Bessemer Ventures, More VC, Regal Four, and Claltech.Vayyar has developed the world’s most advanced 4D imaging radar solution which can see through walls and objects, map environments, and track movements in real-time, without invading one’s privacy. Initially developed to provide a more effective way for early-stage breast cancer detection, Vayyar’s chip solution has demonstrated its cost and performance capabilities and is now used in numerous sectors including automotive, smart home, elderly care, retail, security and medical.Anny Lin, Co-CEO of GLy Capital, said “GLy New Mobility Fund invests with purpose and develops genuine investment partnerships with outstanding growth companies. With our networks and Vayyar’s technology, we are confident of creating more meaningful opportunities for our investors.””We couldn’t be happier with our participation in Vayyar’s journey. Their automotive offering is world class and their applicability and reach into other industry verticals, such as elderly care, smart home, retail, medical and other is impressive.”, said Hrvoje Krkalo, Co-CEO of GLy Capital.”We are excited to have GLy Capital’s New Mobility Fund as shareholders and look forward to leveraging the GLy network for relevant opportunities for our business”, said Raviv Melamed, founder and CEO of Vayyar.The issuer is solely responsible for the content of this announcement. – Published and distributed with permission of Media-Outreach.com.
