Taipei, Taiwan & Ness Ziona, Israel, March 30th, 2022 — LIPS Corporation, a leading global provider of Industrial 3D Vision and Edge-AI solutions and Newsight Imaging, an innovative semiconductor company developing 3D machine vision sensors & spectral vision chips and has recently signed a Memorandum of Understanding (MoU) for the development, promotion, and facilitation of 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 working towards an integration of Newsight’s advanced Series NSI1000 depth sensors and the upcoming NSI9000 into LIPSedge™ 3D camera and system solutions. Furthermore, the agreement allows a direct channel between the R&D teams to assure 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 edge, as it moves the analysis to the IoT device itself, removing 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 Coropration comments in regards to the agreement: ”We are thrilled to partner with Newsight and enhance our growing portfolio of LIPSedge™ 3D cameras and solutions. The 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 deep technology solutions will offer the market an opportunity to enjoy high-end 3D solutions in a very affordable and a mass-volume-oriented pricing scheme”
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 has 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 the SpectraLIT™. The 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.
LIPS 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. For more Information, please visit http://www.lips-hci.com
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