| JERUSALEM, March 30
JERUSALEM, March 30 With the ink barely dry on
the $15 billion sale of his autonomous driving technology firm
Mobileye to Intel, inventive Israeli
entrepreneur Amnon Shashua now has his sights set on taking
another start-up public by the end of next year.
Roughly a decade after founding Mobileye, whose camera-based
sensor chips and software systems are helping to develop
self-driving cars, Shashua set up OrCam, which uses a camera
mounted on eyeglass frames to help the visually impaired
interact with their surroundings.
OrCam's system can read newspapers, street signs and
recognize common items, dictating words into the user's ear.
The company completed a $41 million investment funding round
last month that values the company at $600 million.
"Sales targets for 2017 are four times more than 2016,"
Shashua told Reuters. "By the end of 2018 the revenue, the
profit, of the company will be at such a level, together with
the ability to forecast, that it's good enough for an IPO."
The listing would either be on Nasdaq or the New York Stock
Exchange, he said.
The company would not provide further financial details.
The Intel-Mobileye deal, announced on March 13, is expected
to close within nine months and will result in Intel's Automated
Driving Group being integrated into Mobileye and based in
Israel, with Shashua, Mobileye's chairman and chief technology
officer heading up the combined group.
Though most of his time will be focused on Mobileye, Shashua
doesn't see that detracting from his efforts to prepare OrCam
for a listing, although commentators have questioned how easy it
will be able to divide up his time.
"I'm going to get more responsibilities as folding in
Intel's assets in autonomous driving and leading the combined
effort, but I believe that this is not going to change anything
in terms of the time I spend at OrCam," he said.
Intel has also invested $6 million dollars in OrCam.
(Editing by Greg Mahlich)