Israeli ‘smart glass’ tech company Gauzy buys French shading solutions company
Israeli smart glass technology provider Gauzy announced on Tuesday that it has acquired a French company to strengthen its offerings and become a global leader in light control solutions and shading system technologies.
Terms of the agreement to acquire French company Vision Systems, a leading supplier that develops shading solutions for the aerospace, land and marine industries, were not disclosed. But Gauzy simultaneously announced that it had raised $60 million in a Series D round with existing investors including Ibex, Olive Tree VC, Blue Red Partners, Russian private equity firm Waarde Capital and Avery Dennison, a multinational manufacturer of packaging solutions. New investors included US venture capital firm Walleye Capital, Indian firm 3A Capital and German firm Davidson Capital.
Gauzy was founded in 2009 by Eyal Peso, CEO, and Adrian Loffer, Chief Technology Officer of the company. The Tel Aviv-based operation went on to develop liquid crystal glass, or smart glass, panels for a variety of industries, including automotive, consumer electronics, construction, appliances and solar.
Its LCG (Light Control Glass) products bring high technology to glass, films and other materials, enabling a number of applications including window transparency control, transforming a window from clear to frosted at the touch of a button, and creating optical blinds in the glass for privacy and shading.
Gauzy has worked with a number of automakers around the world, including Daimler, to integrate its light control glass technologies into their vehicles. It has ongoing partnerships with BMW, LG, automotive supplier Brose, Vision Systems, Texas Instruments and others on a range of lighting and shading products, Peso previously told The Times of Israel.
With the acquisition of Vision Systems, Gauzy said it plans to make a breakthrough in the ADAS (Advanced Driver Assistance System) industry, leveraging the French company’s SafetyTech solutions which offer analysis and camera-based image monitoring, and custom designs for light control and shading. elements. The solutions are applicable to private, public and industrial vehicles.
Gauzy said light control technology can be used in ADAS “to reduce visual obstructions such as glare on the road, create safety barriers with instant on-demand privacy for public transport operators in perceived threat, and for switchable, high-contrast transparent screens to communicate safety messages to the surrounding environment.
Vision Systems holds the world’s largest market share for cockpit shading solutions, and the combined company will aim to address core industries including private and commercial aviation, marine, rail, bus and coaches and motor homes, the company said.
“One of the main motivations for this strategic acquisition is diversification, notably marked by Gauzy’s expansion into ADAS (advanced driver assistance systems) and APAS (advanced passenger assistance systems) products”, said Peso, who serves as CEO of Gauzy. “The continued evolution of ADAS and APAS solutions to integrate LCG technologies from a system-based approach addresses a growing demand for safety-focused solutions in the transportation industry.
Carl Putman, CEO of Vision Systems, said the acquisition “creates an international group, specializing in solutions that improve safety and comfort in transport and architecture”.
This strategy has been made possible thanks to the innovation efforts made by both companies over the past few years, as well as the visionary approach to management and strategic marketing. In addition, exceptional know-how in the field of nanomaterials combined with high-level expertise in the integration of electronics and composites in complete systems, will allow the development of a range of tailor-made products, the best of its class in the market.
Gauzy employs nearly 500 people in 14 global offices. The company reported revenue of $50 million in fiscal 2021.