ADASKY Secures $15M investment from existing shareholders as part of Series B investment round

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Oct 22, 2020, 01:00 ET

YOKNE'AM, Israel, Oct. 22, 2020 /PRNewswire/ -- ADASKY, an Israeli startup engaged in developing and manufacturing revolutionary thermal imaging (LWIR) systems for automotive and pedestrian safety, announced today that it has secured a $15M investment from existing shareholders Kyocera Corporation and Sungwoo-Hitech Co., Ltd, as part of a Series B investment round.

This ongoing funding round will support the growth of the company, including the establishment of ADASKY's manufacturing footprint to fulfill market demand and advance the company's shift toward mass production.

ADASKY's high-resolution LWIR thermal imaging solutions are designed and manufactured in-house, end-to-end, and will be applied to vehicle safety systems for ADAS/AV solutions and smart city infrastructure (V2I).

Currently, ADASKY offers three solutions based on its core technology:

Viper
A small, solid-state, and cost-effective LWIR thermal camera, designed for vehicle perception safety systems.
Sharp Vision
An innovative high-resolution thermal camera and software for stationary V2I and smart city roadway applications.
Viper-R
With the emergence of COVID-19, ADASKY was inspired to adapt its thermal cameras for elevated body temperature screening in crowded places.

"Since the establishment of our joint venture, ADASKY's team exhibits the innovative spirit and agility Israel's tech industry is widely known for," said Tayo Hamano, General Manager, Corporate Management Promotion Group, Kyocera Corporation. "We are proud to take part and support ADASKY in its journey to lead the thermal Imaging revolution for a safer world."

"Drivers cannot rely on current ADAS to prevent collisions, especially when it concerns pedestrians at night. ADASKY is developing the right solution. We are excited to continue our support to ADASKY in its mission to save lives" said Mun Yong Lee, President of Sungwoo Hitech.

"I'm very grateful for our partners and their continued support and belief in ADASKY's team and vision, especially in times of global uncertainty," said Yakov Shaharabani, ADASKY's CEO. "We welcome this new investment as further validation of ADASKY's ingenuity and technological capabilities."

About ADASKY
ADASKY was established in Israel, January 2016, and led by former IDF Air Force high-ranking officers and automotive tech veterans with a mission to make mobility safer by way of advanced thermal sensing technologies in order to save people's lives.
http://www.adasky.com.

About KYOCERA Corporation
Kyocera Corporation (TOKYO:6971, https://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as "advanced ceramics"). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of industrial and automotive components, semiconductor packages, electronic devices, smart energy systems, printers, copiers, and mobile phones. During the year ended March 31, 2020, the company's consolidated sales revenue totaled 1.6 trillion yen (approx. US$14.7 billion). Kyocera is ranked #549 on Forbes magazine's 2020 "Global 2000" list of the world's largest publicly traded companies.

About Sungwoo Hitech
Sungwoo Hitech Co., Ltd. (KOSDAQ – 015750, https://www.swhitech.com/eng) is a global player in the automobile industry that develops and manufactures automobile body and structural components. Sungwoo Hitech and its global subsidiaries supply their products to global automakers such as Hyundai & Kia Motors, General Motors, BMW, Volkswagen, Daimler, and Nissan. During the fiscal year ended December 31, 2019, the consolidated revenue of Sungwoo Hitech was US$2.9 billion.

MEDIA CONTACT
Scott Fosgard, Scott Fosgard Communications, +1.734.272.7440, [email protected]

SOURCE ADASKY