3D imaging and sensor technology company Vayyar, the world leaders in 3D imaging and sensor technology has closed a $45 million Series C financing round co-led by Walden Riverwood and ITI with follow-on investment from Battery Ventures, Bessemer Ventures, Israel Cleantech Ventures and Amiti. The funds will be used to enter the commercial market and introduce new sensor products.
Vayyar, creators of the Walabot DIY, creates a 3D image of the environment in real-time. Some industries using Vayyar’s sensors include smart home, automotive, retail, robotics, medical, construction, agriculture and more, and long-term partnerships with Fortune 500 companies.
According to a recent report by Research and Markets, the global 3D sensor market is poised to grow at a CAGR (compounded annual growth rate) of around 17.4 per cent over the next decade, reaching approximately $12 billion by 2025. Vayyar is poised to be the market leader in 3D sensors, as they have been working on their technology since 2011.
On a mission to help people worldwide improve their health, safety and quality of life, the company and its investors predict the need to rapidly scale to take on non-linear growth opportunities. Because Vayyar’s sensors don’t use any camera or optic systems, the company’s sensors maintain privacy by using radio frequency to detect movement, positioning and vital signs.