GLy New Mobility Fund Invests in Israeli Unicorn Vayyar
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.
About GLy New Mobility Fund
The GLy New Mobility Fund is a global mid-to-late-stage private equity fund based in Hong Kong. Backed by Zhejiang Geely Holding Group, the fund invests into startups that disrupt the transportation industry. Key areas of focus are electrification, smart cars, smart cities, mobility as a service (MaaS), materials. The New Mobility Fund has invested in several mobility startups globally such as Polestar, ECARX, Freewire.
About GLy Capital Management Limited
GLy Capital Management Limited is a Hong Kong based investment management entity holding SFC type 1, 4 and 9 licenses. The Company is majority owned by Zhejiang Geely Holding Group.
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About Vayyar Imaging
Founded in 2011, Vayyar has created the world's most advanced radar-on-chip platform to gather life essential data, providing solutions for automotive, smart home, elderly care, retail, security and medical and more, while maintaining privacy at all times.
Its state-of-the-art chip covers imaging and radar bands from 3-81Ghz, with up to 72 transceivers in each chip and an integrated high-performance DSP. Vayyar's multi-antenna sensor produces unprecedented levels of accuracy, enabling high-resolution 4D point-cloud images. Vayyar's sensors can work in any environmental condition, unaffected by line-of-sight, lighting or weather conditions. Vayyar's mission is to deliver the next generation of sensing technology that is miniature, affordable, and versatile enough to impact everyone's lives, enabling a safer world.
Visit vayyar.com to learn more.
For further information, visit: www.glycm.com.
The issuer is solely responsible for the content of this announcement.
