Israeli startup Gauzy, the developer of liquid crystal glass panels for use in a variety of industries, has raised a Series C round of funds from investors Hyundai Motor Company, Singapore-based fund BlueRed Partners, and Avery Dennison, a US maker of labeling and packaging materials. Avery Dennison invested in Gauzy back in 2017.
Although no financial details were disclosed, a person familiar with the matter estimated the funds raised at $10 million. The firm plans to raise a total of $25 million in the round.
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Founded in 2009 by CEO Eyal Peso and CTO Adrian Loffer, the Tel Aviv based company has raised $37.5 million to date, including current funds raised.
“This investment that comes at a hard time and also comes to show the depth of the confidence the investors have in Gauzy and its technologies,” said CEO Eyal Peso, “we have been working closely with industrial players over the years to develop for series production, and the investment will help Gauzy step up its efforts in the delivery of its products all over the world.”
The investment will enable Gauzy to continue to develop its technologies and expand its products’ reach, the company said.
Mercedes Benz team with Israeli startup Gauzy for messages on a car window
Gauzy’s “smart glass” products bring high tech to glass, allowing for a number of applications, including LCG (light control glass) technologies, SPD (suspended particle device), and LC (Liquid Crystal).
for example, LCG enables car windows to switch from opaque to transparent on demand. When windows are opaque, videos and images are projected onto them in HD quality. When the engine starts, the windows become transparent and drive ready. This development is the first of its kind and revolutionizes the capabilities of the advertising world.
Gauzy’s products can be used in a variety of markets including construction, automotive, consumer electronics, home appliances, and solar. The firm has been working with a number of carmakers to integrate its light control glass technologies into their vehicles.
The company has a production facility in Germany, and sales, marketing, and distribution sites in multiple US cities and China, the statement said.
In February 2019, Gauzy announced a strategic investment in a Nasdaq traded firm, Research Frontiers,
In February of 2019, Gauzy announced a strategic investment in Research Frontiers Inc, a Nasdaq traded firm, and a maker of electrically operated light control devices using proprietary technology. Gauzy also plans to develop and manufacture SPD.
