Developing automotive-focused smart camera systems, Buyutech has received an investment of $600 thousand from Bilisim Vadisi and OSTIM Venture Capital Investment Funds, managed by APY Ventures.
Developing automotive-focused smart camera systems, Buyutech has received an investment of $600 thousand from Bilisim Vadisi and OSTIM Venture Capital Investment Funds, managed by APY Ventures.
Buyutech was founded in 2011 by Omer Orkun Duztas and Alparslan Isikli. 90,000 products of the company, which has developed camera-based solutions in many areas such as industrial image processing and applications for the defense industry, are currently actively used in 120 countries.
Having decided to focus on the automotive sector with its experience in camera and camera-based technologies in 2020, Buyutech develops solutions in the field of advanced driving support systems, which are critical for the future of the automotive, with the mission of making the roads safer.
Turkiye’s First Automotive Class Camera Factory
The company, which received its first investment by Farplas Inc. in 2021, established Turkiye’s first automotive class camera factory in IT Valley in 2022 in order to support its experience in technology with its production infrastructure.
Buyutech co-founder and COO Alparslan Isikli shared the following information about the factory:
“We established our factory in 2022 and completed the IATF certification process, which is critical for production in the automotive field. We will start to implement the expansion plan we have planned for our factory, where we started production in the first quarter of 2023, with the completion of our new investment tour.”
Wide Product Family for Automotive Industry
Advanced driver support systems that have developed rapidly in recent years and autonomous driving, which is considered one of the most important developments that will shape the future, require the integration of many new technologies into the automotive industry.
With its technological dominance, 12 years of experience and production facility, Buyutech offers both ready-made products and solutions for camera-oriented needs to automotive companies seeking technological innovation. The company’s products and projects include Front and Rear ADAS (Advanced Driver Assistance System) Camera, Side Mirror Camera System, Rear and Surround View Cameras and Driver/Passenger Tracking System.
Joint Technology Development Studies with University of Michigan
Working with the vision of ensuring that autonomy is accessible to everyone by developing innovative technologies for vehicles to perceive the world, Buyutech is working on innovative projects to be the eye of autonomous vehicles.
With its project developed for autonomous driving, Buyutech has been awarded one of the two initiatives to be accepted worldwide in the TechLab at MCity 2023 program run by the University of Michigan. The development of the technology will continue at TechLab at MCity, a 2-year academic-supported development program in Michigan.
Target is International Automotive Market
Omer Orkun Duztas, the founding partner and CEO of Buyutech, stated that Buyutech continues to provide products and R&D processes with three automotive companies, and expressed the new investment tour and the goals of Buyutech as follows:
“As a startup in 2020, it was a big decision for us to focus on a regulated and large market like the automotive industry. Over time, we have experienced first-hand that the industry needs innovative ideas, an agile company like us, which is well-versed in both hardware and software. We had the opportunity to learn a lot from the automotive companies we work with in Turkiye. APY Ventures became our first investor in this investment round. We will continue to work to improve our relations with international automotive companies with the contribution of the knowledge we have gained in Turkiye by completing an investment of $4 million in this investment round.”
APY Ventures Fund Manager Mustafa Keceli made a statement regarding their investment in Buyutech:
“We are very happy to invest in Buyutech with Bilisim Vadisi GSYF, which focuses on enterprises operating in the mobility vertical, and Ostim GSYF, which we think will make a significant contribution to the Turkish Enterprise Ecosystem. Buyutech was the first investment of Ostim GSYF, we hope that we will invest in many companies that will lead the digital transformation of traditional production with this fund. We think that with its R&D studies on both production capability and image processing technology, Buyutech will radically change the way vehicles perceive the world and become a global player in this field.”
Source: Egirisim / Prepared by Irem Yildiz