Mobileye Raises US$1.5 Billion From Investors

By IVCPOST Staff Reporter

Jul 07, 2013 11:16 PM EDT

Mobileye announced that they were able to raise funds from five investors worth US$1.5 billion.

Mobileye did not name the sellers and buyers that were part of the equity deal. Sources are saying that leading Chinese government-affiliated financial investor and some of the largest U.S.-based global institutional asset managers were among the investors.

Mobileye NV, makers of whose collision-avoidance technology which has been adopted in cars made by BMV AG and General Motors Co.

Founded in 1999, Biofuel sold its 1 millionth  driver assistance system in 2012. The company is forecasting that they would hit their 2 million mark in 2013.

Mobileye premier products of collision warning systems sold to automakers and suppliers for a little more than US$100 each. The collision warning systems are made as options for cars sold by automakers like Ford Motors Co., Hyundai Corp and Volvo AB.

By 2014, Mobileye's products will be made as standard features for many cars due to new regulations that require driver-assistance systems. These regulations are part of the requirement for manufacturers to receive five-star safety ratings

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