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South Korea’s bitsensing cements $25M to drive growth in radar technology

Image credit: bitsensing

bitsensing, a South Korean company developing advanced radar solutions, has secured $25 million in Series B funding. This investment round, led by prominent venture capital firms and strategic investors, underscores bitsensing’s potential to revolutionise various industries with its radar technology.

Last year, we had also reported about how Altos Radar, a 4D imaging radars powering autonomous future, secured $3.5M to elevate self-driving car safety.

How will the funds be used

The fresh capital will be used to bolster bitsensing’s operations in several ways. The company plans to: scale its workforce, enhance its existing product portfolio, explore new market opportunities, and establish strategic partnerships. This multi-pronged approach aims to accelerate bitsensing’s global growth and solidify its position as a leader in the radar technology sector.

Radar everywhere: bitsensing’s vision for multiple industries

bitsensing’s vision of “radar everywhere” translates to integrating their radar technology into various applications across diverse sectors, including: automotive, smart cities, health technology. bitsensing’s radar solutions cater to a range of applications, each designed to improve safety, efficiency, and convenience. Here’s a closer look at some of their offerings:

Automotive radar

Imaging radar: Provides high-resolution 4D imaging for autonomous vehicles, enhancing their understanding of surroundings.

Corner radar: Offers a surround-view detection solution for autonomous vehicles, boasting a 50% improvement in detection range compared to conventional radar systems.

Traffic radar

Traffic Insight Monitoring Sensor (TIMOS): An all-in-one traffic sensor integrated with AI computing, providing real-time traffic data and safety insights across 12 lanes. This system is currently deployed in six countries.

Health tech radar

bitsensing’s radar technology is also being explored for sleep monitoring applications. It tracks sleep quality, sleep apnea events, and limb movements, offering data analysis and recommendations.

bitsensing has made significant strides in recent years. These achievements include: Achieving the top evaluation (TI-1) in the Tech Ranking, national core technology company designation by the South Korean government.

The company has also garnered recognition for its innovative technology through awards like: Best New Product at the 2019 Korea Electronics Grand Show, CES 2020 Innovation Awards Honoree for Smart Cities, 2020 TechCrunch Disrupt Winner and CES 2022 Innovation Awards Honoree for Vehicle and Transportation Technology.

What do we think about the startup

With a total of $52 million raised in funding, bitsensing is well-positioned to continue developing radar solutions and realising its vision of “radar everywhere.” However, it’s important to acknowledge the competitive landscape within the radar technology sector. Established companies and emerging startups are also vying for market share. The long-term success of bitsensing will depend on its ability to execute its growth strategy, continuously innovate, and effectively compete in this evolving market.

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