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Bitsensing raises $25 million for 4D radar tech

Bitsensing raises $25 million for 4D radar tech

Business news |
By Nick Flaherty



Bitsensing has raised $25m to expand its automotive 4D radar technology into smart city and health applications.

The Series B round funding will be used to scale bitsensing’s operations, invest in research and development, and explore new markets for its 4D radar technology. The automotive grade  technology for driverless cars can also be used in smart city application such as smart traffic lights and in healthtech applications.

bitsensing’s latest funding round is backed by top-tier investors including the Korea Development Bank, HL Mando Corporation, Industrial Bank of Korea, Aju Capital, Life Asset Management, and SCL Investment.

This is the fourth consecutive time that HL Mando Corporation has participated in funding bitsensing in South Korea.

Bitsensing, Infineon team up for in-cabin sensor

“We truly believe in the transformative role our cutting-edge radar solutions will have across a host of industries and want to make ‘radar everywhere’ a reality,” said Dr. Jae-Eun Lee, CEO of bitsensing. “We are thrilled to have the support of such esteemed investors and this funding round will accelerate the next phase of bitsensing’s growth. With this new investment, we’ll be focused on the further development of our technology, expanding our product offerings, and enhancing our global market presence.”

bitsensing’s imaging radar product transforms the way the autonomous vehicle understands its surroundings by providing high-resolution 4D imaging. With a range coverage of more than 300 meters, its array patterning technique and radar signal processing algorithms boost reliability. The corner radar product provides a surround detection solution for autonomous vehicle systems with a 50% advancement in detection range compared to conventional radar.

bitsensing’s Traffic Insight Monitoring Sensor (TIMOS) is an all-in-one traffic sensor that integrates an AI computing device into an intelligent transport system (ITS) solution. It provides visibility and intelligence across 12 lanes of traffic, vehicle class detection (i.e. cars, motorcycles, etc.), and the ability to identify a host of safety issues, including jaywalking, wrong-way driving, speed violations, and stationary vehicles. It is currently being used across six countries, including South Korea’s Nonsan-Cheonan Expressway. 

bitsensing’s radar is also applied to application services for digital health, focused on sleep care. Its radar monitors sleep quality, apnea events, limb movements and also provides data analysis like sleep scores, summaries and lifestyle recommendations. 

The company raised $10m in Series A funding in 2022 and has raised $46m (including this round) since its inception. 

 www.bitsensing.com.

 

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