NESS ZIONA, Israel and TAIPEI, Taiwan, March 30, 2022 /PRNewswire/ -- Newsight Imaging, an innovative semiconductor company that develops 3D machine vision sensors and spectral vision chips and LIPS, a leading global provider of Industrial 3D Vision and Edge-AI solutions, have recently signed a Memorandum of Understanding (MoU) to develop, promote, and facilitate eTOF® (enhanced-Time-Of-Flight)-based 3D vision systems for Industry 4.0 use-cases and AIoT.
The agreement formalizes the collaboration of both parties to work toward integrating Newsight's advanced Series NSI1000 depth sensors and the upcoming NSI9000 into LIPS 3D camera and system solutions. Furthermore, the agreement allows a direct channel between the R&D teams to ensure a fast design-win and mass production of the new game-changing products.
The vision systems are designed for Industry 4.0 safety, process improvement, and automation applications. The connective devices will support AIoT platforms for the ultimate intelligent cross-industry and multi-purpose 3D vision solution. AIoT applications are bringing intelligence to the cutting edge, as it moves the analysis to the IoT device itself, eliminating any delay in the processing. The global AIoT market will reach $78.3 billion by 2026, showing substantial growth with 39.1% CAGR.
Luke Liu, CEO of LIPS, comments in regard to the agreement: "We are thrilled to partner with Newsight and enhance our growing portfolio of LIPSedge™ 3D cameras and solutions. Newsight's advanced depth sensors will allow LIPS to build new and exciting 3DxAI solutions targeting both industrial 4.0 and AIoT markets with innovative edge capability."
Eli Assoolin, CEO and Co-Founder of Newsight Imaging, adds his remarks about the MoU: "Newsight is very pleased to add LIPS, a strategic player in 3D vision, to our growing eTOF® based products' customer base. The combination of Newsight's sensors with LIPS's deep technology solutions will offer the market an opportunity to benefit from high-end 3D solutions in a very affordable and a mass-volume-oriented pricing scheme."
LIPS (http://www.lips-hci.com) is a global leading provider of 3D AI solutions. We design, build, and customize 3D depth cameras and middleware, and provide turnkey solutions for our customers' applications. Our differentiation comes from our unique strength in delivering customized machine vision and AI solutions for customer applications in every industry.
About Newsight Imaging
Newsight Imaging (www.nstimg.com) develops advanced CMOS image sensor chips for 3D machine vision and spectral analysis. Newsight's depth camera sensors for machine vision serve verticals such as Mobile & Metaverse, Robotics, Industry 4.0, Automotive Safety, etc. The company recently launched its one-of-a-kind solid-state LiDAR reference design, the eTOF™ LiDAR, based on the NSI1000 sensor. In addition, Newsight has developed a spectral chip backed by AI technology, demonstrated in SpectraLIT™. SpectraLIT™ offers a unique and affordable solution for remote healthcare, real time diagnosis, and quality inspection solutions for water, food & beverage, etc. The company has US and EU patents and has received multiple grants by the Israeli Innovation Authority.
SOURCE Newsight Imaging