Mobileye NV has a popular collision avoidance technology that has been adopted by car makers including BMW AG and General Motors Co. The company said on Sunday that it had raised money from five investors. The said investors valued the firm's equity at US$1.5 billion highlighting the market potential for driver assistance systems.
The driver assistance system maker was founded in 1999 by an Israeli businessman at the Hebrew University of Jerusalem. The founder was also a professor at the said university. Last year, Mobileye sold its 1 millionth driver assistance system. It was expected to sell 2 million more in 2013.
The Amsterdam based firm that the five equity investments for the company reached a total of US$400 million. The provided figures showed that the five investors acquired around 27% stake in Mobileye collectively.
Mobileye did not disclose any information regarding buyer and seller names of the equity. However, sources who asked not to be named said that the said investors were some of the biggest US global institutional asset managers and a leading Chinese government-affiliated financial investor.
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