Porsche’s venture arm has acquired a minority stake in TriEye, an Israeli startup that’s working on sensor technology to help vehicle driver-assistance and self-driving systems see better in poor weather conditions like dust, fog, and rain.
The strategic investment is part of a Series A financing round that has been expanded to $19 million. The round was initially led by Intel Capital and Israeli venture fund Grove Ventures. Porsche has held shares in Grove Ventures since 2017.
TriEye has raised $22 million to date. Terms of Porsche’s investment were not disclosed.