Gauzy, an Israeli start-up, was invested by Hyundai in research and development of optical control glass technology
2020-05-15
Gauzy Ltd., an Israeli nanotechnology start-up, raised US $10 million (about 70.813 million yuan) in round C financing, led by Hyundai, the most popular auto brand in Israel, blue red partners VC and
Avery Dennison, a US manufacturer of pressure sensitive materials, was involved. Gauzy, headquartered in Tel Aviv, mainly produces optical control glass technology products, such as dimming windshield.
Gauzy's products can actively monitor and control vehicle lighting, and use dynamic sun shading technology to make windows bright or dark. Just press a button, the driver can start the current, let the current flow through the UV curing thin embedded in the window glass, and make the opaque glass transparent. If gauzy's glass is installed on the front and rear windscreens or side windows, it can dim the incoming light, provide functions such as shading, privacy protection and spreading danger warnings or advertisements to the outside.
Gauzy was founded in 2009 and currently has 110 employees around the world. According to data research firm pitchbook, gauzy has raised $12.35 million, while Hyundai's $10 million round C financing is part of its $25 million financing. Hyundai is the first automaker to invest in gauzy, while Mercedes Benz is the first to announce that it will adopt gauzy technology. The company has plants in Tel Aviv and Stuttgart, Germany, and 11 manufacturers have adopted gauzy products in future models. The first model equipped with its products is expected to enter mass production in 2021.
"Our technology will first be applied to windscreens, some manufacturers will also apply our technology to skylights, others as luxury add ons," said Eyal peso, gauzy's chief executive
In addition, this is the fourth time that Hyundai has made a significant investment in the automotive technology industry in Israel. Previously, the company had invested millions of dollars in mdgo Ltd. and kardome. Mdgo Ltd. has developed a platform that can assess the injuries of victims of traffic accidents in real time and provide location and condition information to rescue services, while kardome can improve vehicle voice control. Hyundai has also invested in allegro.io, an AI technology start-up, and operates an innovation and investment center in Tel Aviv.
