The Israeli institutional investor will hold an 8.15% stake in the automotive vision systems company.
Israel automotive vision systems company Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) announced today that it has entered into private placement agreements with Harel Insurance Investments and Financial Services Ltd. (TASE: HARL). Following the closing of the private placement, Harel Insurance will hold an 8.15% stake in the Ness Ziona-based company.
Foresight is engaged in the design, development and commercialization of stereo/quad-camera vision systems and V2X cellular-based solutions for the automotive industry. Foresight’s vision systems are based on 3D video analysis, advanced algorithms for image processing, and sensor fusion.
The company is managed by CEO and controlling shareholder Haim Siboni.
Published by Globes [online], Israel business news - www.globes-online.com - on June 21, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018
siboni autonomous car