Clal Insurance Invests in Artificial Vision
OrCam, the Jerusalem-based company that develops technology for the blind and visually impaired, is now valued at $1B following a $30.4M round.
The latest round was led by Clal Insurance and Meitav Dash, which brings the company’s total funding to date to $86.4M. OrCam was founded in 2010 by Prof. Amnon Shashua and Mr. Ziv Aviram, who are also the cofounders of Mobileye – a driver-assistance technology company acquired by Intel for $15B.
OrCam developed an artificial vision device with a smart camera that instantly reads text aloud. The device can recognize faces, products, and money notes in real-time.
Also, OrCam offers two products: OrCam MyEye 1 and OrCam MyEye 2.0. The devices are currently available in North America for around $4,500 with the option to add a protection plan. “I think the potential for OrCam is even bigger than Mobileye. This technology is endless. We just started to understand the tip of the iceberg of what can be done” – CEO and cofounder of OrCam, Ziv Aviram.
We think so too.
