TriEye Raises Capital for Next-Gen SWIR Tech, Appoints Board Member

TriEye, a developer of CMOS-based SWIR sensing solution for mass-market applications, raised $74 million in new capital. The round was led by M&G Investments and Varana Capital, with participation from Samsung Ventures, SDF (the investment arm of Tawazun Holdings), Deep Insight, Allied Group, and Discount Capital, along with follow-on investors Intel Capital, Porsche Ventures, Marius Nacht, and Grove Ventures. The round brings TriEye’s total funding to $96 million.

The funds will be used to commercialize SEDAR (spectrum-enhanced detection and ranging), TriEye’s imaging and ranging solution for advanced driver assistance systems and autonomous vehicles. The technology uses the SWIR spectrum to produce high-definition image data and a detailed depth map in all weather conditions.

In a separate move, the company appointed Hans Rijns, former CTO of NXP Semiconductors, to its advisory board. Rijns has more than 25 years of experience in R&D management and business strategy. In his career, he has published more than 40 scientific publications and he holds seven patents.