Elbit unit BrightWay Vision raises $25m

BrightWay Vision Photo: Haim Magiora / Photo: Haim Magiora,

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The company has adapted night vision technology to help cars see the road at night and in low visibility conditions.

Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that its night vision technology subsidiary Brightway Vision Ltd. (BWV) has raised a $25 million investment from Koito Manufacturing Co, Ltd. and Magenta Venture Partners, following which they will hold approximately 38.5% of BWV's shares, on a fully diluted basis.

BWVs' patented system, BrightEye combines sensing and laser illumination technologies for the automobile industry, which generate a clear long-range image of the road ahead at night and in low visibility conditions while also detecting objects in the vehicle path thus enabling effective hazard alerts, collision and other safety warnings.

Published by Globes, Israel business news - en.globes.co.il - on June 25, 2019