The company, Gauzy, has created technology using unique liquid crystal film which can be embedded into raw materials—with a current focus on glass—to perform a vast array of functions including, inter alia, providing users the ability to control its levels of transparency and opacity.
The fresh financial injection is expected to facilitate the doubling of the company’s workforce to reinforce its recently inaugurated offices in Los Angeles, Dallas and Stuttgart. Moreover, it will provide an additional boost to the expansion of its research and development and sales and marketing activities worldwide.
Its most recent round of fundraising reflects the rapidly growing interest in the Israeli ingenuity from venture capital companies and private investors the world over, particularly given that in the preceding round it managed to accumulate a whopping $5 million from the UK investment fund Sollange Investments.
“We are excited to announce this further round of investment in Gauzy. We would especially like to thank Lazarus, Waarde Capital and Olive tree for the vote of confidence. Together we will see Gauzy elevated to its promise,” Gauzy co-founder Eyal Peso told Ynetnews.
The potential of the company’s innovative technology, demonstrated by its impressive and consistent financial accruement, is now living up to the potential that was spotted even by the likes of the Israeli government in its embryonic stages.
Indeed, Avi Hasson, Chief Scientist, Director General of Innovation & Industrial R&D Administration from the Ministry of Economy acknowledged the government’s early decision to throw its lot in with the company.
"The Israel Innovation Authority (formerly the Office of the Chief Scientist) has been funding and supporting Gauzy for several years, a company integrating hi-tech with traditional industry, local Israeli production and development and export,” Hasson said.
“We identified their unique technology early on, which embodies enormous potential. We believe that a production-oriented industry is part of Israel's future growth engine and attach great importance to it. We’re pleased and honored that a company which we identified at such an early stage is developing and raising investments."
And that’s not all. In July Peso announced that the company had been working in collaboration with Mercedes-Benz Cars Daimler AG for the past three years.
The surprise announcement came during a prestigious automotive high-tech competition held in Stuttgart, Germany, during which Gauzy was selected among the final ten in a competition which originally began with hundreds of international ambitious start-ups.
The event, Start-up Autobahn, is a global hardware and mobility innovation platform intended to connect top mobility start-ups with resources from corporations, investors, and universities. It was sponsored by Plug and Play tech center in Silicon Valley, Daimler and the University of Stuttgart.