Brightway Vision Ltd. announced that it has received $25 million in funding from Koito Manufacturing Co., Ltd., Magenta Venture Partners
June 24, 2019
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Brightway Vision Ltd. announced that it has received $25 million in funding from new investors Koito Manufacturing Co., Ltd. (TSE:7276) and Magenta Venture Partners on June 25, 2019. Koito Manufacturing Co., Ltd. (TSE:7276) acquired 36.92% stake for $24 million by acquiring 11,927,189 shares. Magenta Venture Partners acquired around 1.58% stake for $1 million. Magenta Venture Partners's Managing Partner Ori Israely, who will also be joining the company's board of directors.
KOITO MANUFACTURING CO., LTD. is mainly engaged in the manufacture and sale of automotive lighting equipment, aircraft parts, railway vehicles parts, electrical equipment and measuring equipment. The Company mainly operates in six segments, including Japan, China, Asia, North America, Europe and Others. The Companyâs major products include light-emitting diode (LED) head lamps, discharge head lamps, headlights, sign lamps, high mount stop lamps, halogen bulbs, miniature bulbs and other lamp fittings, control equipment for rail vehicles, roads traffic signals, traffic control systems, roads and tunnels illumination lamps, facilities illumination lamps, accommodation equipment, aircraft parts, electronic parts, head lamps cleaners, sheets for aircraft and rail vehicles, as well as environment control equipment. The Company is also engaged in the development and manufacture of forward monitoring operation support systems for advanced driver-assistance systems (ADAS) through subsidiary.
KOITO MANUFACTURING CO., LTD. 
