Friday, October 26, 2007

Goldman Sachs Invested $100M in Israeli Mobileye

Mobileye, a Top100 Innovator according to Red Herring magazine, develops vision systems to prevent imminent accidents by providing drivers with tools such as distance keeping between vehicles, dynamic cruise control and timely warnings in dangerous situations.

Mobileye's main product is
its EyeQ vision system chip. The chip monitors the location of other vehicles on the road so that the driver can avoid accidents if other drivers swerve from their lanes or get too close.

GS made the investment based on a $600M valuation.
Mobileye has raised about $65 million so far, and its revenues are estimated at $10 million a year. Mobileye was co-founded by Professor Amnon Shashua (Chairman), expert in 3D vision and pattern recognition, and CEO Ziv Aviram. Founded in 1999, the company has a head count of approximately 185 and has its R&D based in Jerusalem as well as sales and marketing offices in the US Cyprus and Japan.

[via Haaretz]

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