Newsight Imaging Secures Strategic Investment from Infore

Ness Ziona Israel, October 9, 2017: Newsight Imaging, a leading developer of advanced CMOS image sensors for laser LiDAR and spectral analysis, today announced that it has secured financing from the Infore Investments Holding Group, a Midea related company, and has completed a Pre-A round of financing.

The investment will be used to expand marketing and sales capabilities in order to support mass production of the NSI3000, Newsight's solution for short-range laser Lidar sensors, and in order to hire talented employees on an ongoing basis for the next generation products, such as the NSI5000 family targeted primarily at the automotive ADAS LiDAR market. Infore is expected to appoint a Director to the Newsight Board of Directors.

“We are very pleased to have Infore investing in Newsight Imaging, and moreover, to be the first semiconductor design company that Infore has invested in", said Eli Assoolin, CEO and co-founder of Newsight Imaging: "Infore is an ideal partner for Newsight Imaging: it has great access to the Chinese and global markets, invaluable knowledge of a big company, and a strong appreciation of Newsight’s technology. All these factors will contribute significantly to the rapid business growth of Newsight Imaging in China and globally".

"we also feel very honored to invest Newsight. It not only has enormous advantages in Lidar CMOS technologies and products, but also has a very strong founding team which has more than 25 years experiences in the semiconductor industry." said Mr. Yang Li, Chief Investment Officer (CIO) of Infore Investment Group: "Infore has lots of industry resources in China that can greatly accelerate the commercialization progress of the Israel technology. With our close cooperation, I believe Newsight will become a very major player in robotics and automotive applications in the near future."