Imaging sensor unicorn Vayyar laying off dozens of employees as cash burn forces strategic shift
Imaging sensor unicorn Vayyar laying off dozens of employees as cash burn forces strategic shift
After raising $300M, the 3D sensor company narrows focus to core markets in a bid for sustainability.
Israeli unicorn Vayyar Imaging is currently in the process of laying off dozens of employees to significantly reduce its cash burn rate. To date, the company, which employs around 200 people, has raised more than $300 million.
In its most recent fundraising round in June 2022, Vayyar raised $108 million at a valuation of approximately $1.5 billion, led by Koch Disruptive Technologies. Other investors in the company include GLy Capital Management, Atreides Management LP, KDT, Battery Ventures, Bessemer Ventures, More VC, Regal Four, Claltech, and additional venture capital funds.
Vayyar was founded in 2011 by Raviv Melamed, a former VP at Intel Architecture Group, Miri Ratner, VP R&D, who previously served as the R&D Department Manager at Alvarion Technologies, and CTO Naftali Chayat, the former Chief Scientist at Alvarion.
The Israeli semiconductor company develops 4D imaging radar solutions in the automotive and senior care sectors, producing sensors that provide detection and tracking in all conditions. Founded with a vision of detecting early-stage breast cancer using RF technology, Vayyar has since expanded its business into senior care, automotive, retail, public safety, and other industries. Due to the current situation, the company plans to focus on two core areas: the smart home and automotive sectors. The company provides solutions powered by its system-on-chip, proprietary software stack, and Machine Learning algorithms.
In the automotive space, Vayyar manufactures 4D imaging radar-based platforms that transform safety across the in-cabin, ADAS, and motorcycle (ARAS) domains. In senior care, the company offers Vayyar Care, a remote monitoring solution, integrated with nurse call systems, that protects the aging population with automatic fall detection and data that drives predictive behavioral analytics.
First published: 10:27, 24.09.24
