bitsensing secures $25m funding for 4D radar technology

Bitsensing, a leading provider of automotive 4D radar technology, has recently announced a successful funding round of $25 million. This investment will fuel the company's expansion into smart city and health applications, in addition to further developing its radar technology for driverless cars. The Series B funding will support bitsensing in scaling its operations, investing in research and development, and exploring new markets for its innovative radar solutions.

The automotive-grade technology developed by bitsensing is not limited to autonomous vehicles but can also be utilized in various smart city applications, such as smart traffic lights. Furthermore, the company is venturing into the healthtech sector, where its radar technology shows promise in applications related to digital health. This diversification highlights the versatility and potential impact of bitsensing's radar solutions across different industries.

Backing bitsensing in this funding round are esteemed investors including the Korea Development Bank, HL Mando Corporation, Industrial Bank of Korea, Aju Capital, Life Asset Management, and SCL Investment. Notably, HL Mando Corporation's continued support marks the fourth consecutive time the company has participated in funding bitsensing in South Korea, underscoring confidence in bitsensing's vision and technology.

Dr. Jae-Eun Lee, CEO of bitsensing, expressed enthusiasm about the funding round, stating, "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." The investment will enable bitsensing to accelerate its growth trajectory, focusing on technology development, product expansion, and global market presence.

One of bitsensing's key collaborations is with Infineon for an in-cabin sensor, showcasing the company's commitment to innovation and strategic partnerships. The imaging radar product offered by bitsensing enhances the situational awareness of autonomous vehicles through high-resolution 4D imaging, with a range coverage exceeding 300 meters. Additionally, the Traffic Insight Monitoring Sensor (TIMOS) provides advanced traffic monitoring capabilities, demonstrating bitsensing's commitment to intelligent transport solutions.