Newsight Imaging Secures Strategic Investment from Infore
Infore’s investment will support the company’s global development and continued innovation in Robotics and Automotive CMOS Image sensors for Laser LiDAR
Ness Ziona Israel, October 9, 2017 – Newsight Imaging, a leading developer of advanced CMOS image sensors for laser LiDAR and spectral analysis, today announced that it has secured financing from China’s Infore Investments Holding Group, a Midea-related company.
The investment, which marks the completion of Newsight’s Pre-A round of financing, will be used to expand the company’s marketing and sales capabilities. The funds will support mass production of the Newsight’s NSI3000, a cutting-edge solution for short-range laser LiDAR (Light Detection and Ranging) sensors.
Newsight plans to expand its workforce to develop next generation products such as the NSI5000 family targeted primarily at the automotive ADAS LiDAR market.
Infore is expected to appoint a director to the Newsight Board of Directors.
“We are very proud that Infore chose to make its first semiconductor design investment in us,” said Eli Assoolin, CEO and co-founder of Newsight Imaging. “Infore is an ideal partner as it offers us access to the Chinese and global markets and exposes Newsight to the invaluable knowledge of a big company.”
“We feel very honored to invest in Newsight, which is a true innovator of leading technologies in LiDAR CMOS technologies and products. We have real confidence in the company’s very strong founding team, which has more than 25 years experience in the semiconductor industry,” said Yang Li, chief investment officer (CIO) of Infore Investment Group.
“Infore’s superb industry resources in China can greatly accelerate the commercialization progress of the Israeli technology. With our close cooperation, I believe Newsight will become a major player in robotics and automotive applications in the near future,” he added.