LG and Mitsubishi UFJ Capital have exited the driver assistance technology developer in a purchase of undisclosed size by LeddarTech.
Automotive sensor producer LeddarTech has bought Israel-based autonomous vehicle technology developer Vayavision for an undisclosed sum, enabling electronics group LG to exit, it revealed yesterday.
Founded in 2016, Vayavision provides sensor fusion and perception technology for use in advanced driver assistance systems. It will operate as a subsidiary of LeddarTech post-acquisition.
The company closed an $8m round in late 2018 that was co-led by Viola Ventures, Mizmaa Ventures and OurCrowd with backing from LG and Mitsubishi UFJ Capital, the venture capital arm of financial services firm Mitsubishi UFJ Financial Group.
LeddarTech chief executive Charles Boulanger said: “The existing single sensor solutions in the market do not provide the performance, flexibility, scalability and cost-effectiveness that the market needs for mass deployment.
“Our LeddarEngine platform built on an open software architecture combined with VayaVision sensor fusion and perception enables LeddarTech to address customers’ need for sensing solutions that are hardware agnostic, scalable and adaptable to any vehicle and sensor configuration.”
