Vayyar Imaging Series E Private Placement Successfully Completed
On June 6, 2022, Vayyar Imaging (“Vayyar” or the “company”) announced the successful closing of a Series E round private placement of USD 108 million. Koch Disruptive Technologies led the investment round with the participation of GLy Capital Management (“GLy Capital”, mobility technology-focused fund anchored by Geely and SK Inc.), Atreides Management LP, Battery Ventures, Bessemer Ventures, More VC, Regal Four, and Claltech. China International Capital Corporation Limited (CICC) acted as the Asia lead financial advisor to Vayyar and has helped the company attract strong investor interest.
This transaction represents the largest-ever single round of private placement in the global imaging sensor chip sector and one of the largest private placements in an Israeli semiconductor company in history. It brings Vayyar’s total funding to over USD 300 million.
Vayyar Imaging is a global leader in 4D imaging sensor technology, providing affordable, highly advanced sensors to a wide variety of industries. With a state-of-the-art chip housing up to 72 transceivers and covering imaging and frequency bands from 3-81 GHz, Vayyar’s solutions deliver unprecedented accuracy for partners in sectors including automotive, senior care, smart home, retail, and security.
By bringing in GLy Capital and additional Asian strategic partners, this landmark investment is closely aligned with Vayyar’s objective in Asia to become the foremost commercial 4D imaging sensor supplier.
Vayyar is recognized in China as a leading 4D imaging sensor provider in the smart home and elderly care markets through a WFOE and JV with Haier. Its solutions gather rich data that support automatic fall detection and advanced behavioral analytics, while maintaining privacy at all times.
The company is now expanding its China automotive operation with the goal of bringing its best-in-class automotive ADAS solutions to market. Following success with leading OEMs in Japan and Vietnam, Vayyar has introduced mature products and is ready to fulfill growing demand from automakers in China, Korea and South East Asia.
Vayyar’s 4D imaging sensor provides multifunctionality on a single-chip platform, with an unprecedented range of up to 500m. It provides high resolution from over 40 antennas, and an ultra-wide field of view, while reducing the number of sensors required for each application.
“China has always been one of the most important markets for Vayyar,” said Jie Rong, Vayyar’s China GM. “We value the opportunity to work with Chinese customers, partners and investors. This year, we are further expanding our China team with new R&D center and better support our customer and partners to build tailored solutions for Chinese market.”
“Vayyar has developed a remarkable 4D imaging sensor solution that is multifunctional, cost-effective and highly recognized in automotive, elderly care, retail, security and many more industries. We believe there are massive opportunities ahead for this next generation sensing technology and look forward to supporting Vayyar’s continued innovation and growth.”, said Anny Lin & Hrvoje Krkalo, Founders & Co-CEOs of GLy Capital.
As the Asia lead financial advisor to Vayyar, CICC was responsible for introductions to and overall coordination with investors throughout the due diligence and negotiation processes. Through an extensive marketing effort, CICC generated strong interest from investors within a tight timeline, resulting in oversubscription of this round within two months of launch.
Assisting Vayyar in its successful capital raising transaction highlights CICC’s determination to be a unique value-added partner to its global clients. This transaction is testament to CICC’s active response to the “Belt and Road Initiative” and its internationalization strategy. As a leading investment bank with “Chinese Roots and International Reach,” CICC will continue to utilize its exceptional capital market expertise and global network to facilitate cross-border transactions.