HAIFA, Israel --- Elbit Systems Ltd. announced today that its subsidiary, BrightWay Vision Ltd., 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, uniquely combines sensing and laser illumination technologies for the automobile industry, to 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.
Under the corporate message, 'Lighting for Your Safety', Koito Manufacturing Co., Ltd (Koito) has been marking a history of leadership in automotive lighting since its establishment in 1915. Today, the Koito Group consists of 32 companies located in 12 countries worldwide and provides products and services to customers all over the world, through the global network led by five major regions (Japan, North America, Europe, China, and Asia.)
Its products, recognized for its high quality and advanced technology, are widely used by automotive makers worldwide. The company is responding to the future transformation of mobility through the development of next-generation lighting technologies and related equipment, control systems, and environmentally friendly products, materials, and production methods.
Magenta Venture Partners is a venture capital firm focused exclusively on Israeli and Israeli-related early stage technology startups across multiple categories including Automotive, Mobility, Enterprise Software, IoT, Industry 4.0, Artificial Intelligence, Fintech, and Digitalization. Magenta is backed by prominent Japanese institutional and strategic investors, including Mitsui & Co. Ltd., all with strong global reach in multiple domains across a wide range of industries.
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.