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Elbit Subsidiary BrightWay Raises $25 Million

Haifa-based BrightWay develops a multi-functional vision and ranging system for the automotive industry

CTech 11:4925.06.19
Imaging company BrightWay Vision Ltd., a subsidiary of Israeli defense contractor Elbit Systems Ltd., has raised $25 million from Japanese lighting equipment manufacturer Koito Manufacturing Co. Ltd. and Magenta Venture Partners, Elbit announced Tuesday. Following the investment, Koito and Magenta will hold a combined 38.5% stake in BrightWay, Elbit said.

 

Spun out of Elbit in 2011, Haifa-based BrightWay develops a multi-functional vision and ranging system for the automotive industry, using active gated imaging technology.

 

Elbit CEO Bezhalel Machlis. Photo: PR Elbit CEO Bezhalel Machlis. Photo: PR

 

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