Israeli nanotechnology startup Gauzy Ltd. raised US $ 10 million (about 70.813 million yuan) in Series C financing, led by Israel`s most popular car brand Hyundai, Blue Red partners VC and US pressure sensitive material manufacturing Avery Dennison participated in the vote. Gauzy is headquartered in Tel Aviv and mainly produces light control glass technology products, such as dimming windshield.
Gauzy's products can actively monitor and control vehicle lighting, and use dynamic shading technology to make windows brighter or darker. With just one button on demand, the driver can start the current, let the current flow through the ultraviolet curing embedded in the window glass, and turn the opaque glass into transparent. If Gauzy's glass is installed on the front and rear windshields or side windows, the incoming light can be dimmed, providing functions such as shading, protecting privacy, and spreading danger warnings or advertisements.
Gauzy was founded in 2009 and currently has 110 employees worldwide. According to data from data research agency PitchBook, Gauzy has already raised $ 12.35 million, and Hyundai Motor`s $ 10 million in Series C financing is part of its $ 25 million financing. Hyundai is the first automaker to invest in Gauzy, and Mercedes-Benz is the first automaker to announce the adoption of Gauzy technology. The company has plants in Tel Aviv and Stuttgart, Germany. Eleven manufacturers have adopted Gauzy products in future models. The first model equipped with its products is expected to enter mass production in 2021.
Eyal Peso, CEO of Gauzy, said: "Our technology will first be applied to windshields, some manufacturers will also apply our technology to skylights, and some will be used as luxury add-ons."
In addition, this is the fourth major investment by Hyundai Motors in the Israeli automotive technology industry. 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 traffic accident victims 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 artificial intelligence startup, and operates an innovation and investment center in Tel Aviv.