HAIFA, Israel, June 25, 2019 /PRNewswire/ -- Elbit Systems Ltd.(NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that its subsidiary, BrightWay Vision Ltd. ("BWV"), raised a $25 million investment from Koito Manufacturing Co, Ltd. (TYO: 7276) 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 andother safety warnings.
About Koito
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.
For more information, please visit www.koito.co.jp/english
About Magenta Venture Partners
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 seeks to partner with the best Israeli entrepreneurs and work with them towards building significant global companies. 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. The fund is led by four seasoned professionals with significant global experience in high-tech, startup investment, and corporate business development. For more information, please visit www.magenta.vc