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 driverless cars but can also be applied in various smart city applications, such as smart traffic lights, and in healthtech applications. This versatility has attracted the attention of top-tier investors, including the Korea Development Bank, HL Mando Corporation, Industrial Bank of Korea, Aju Capital, Life Asset Management, and SCL Investment.

Notably, this marks the fourth consecutive time that HL Mando Corporation has participated in funding bitsensing in South Korea, highlighting the confidence and support from existing investors. Dr. Jae-Eun Lee, CEO of bitsensing, expressed excitement 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."

Bitsensing's imaging radar product is designed to enhance the capabilities of autonomous vehicles by providing high-resolution 4D imaging for better understanding of the surroundings. With a range coverage exceeding 300 meters, the radar technology's array patterning technique and signal processing algorithms significantly improve reliability. The corner radar product offers a surround detection solution with a 50% increase in detection range compared to traditional radar systems.

Moreover, bitsensing's Traffic Insight Monitoring Sensor (TIMOS) is an advanced traffic sensor that integrates AI computing into intelligent transport systems. This all-in-one solution offers visibility and intelligence across multiple lanes of traffic, vehicle class detection, and the ability to identify safety issues such as jaywalking, wrong-way driving, and speed violations. Currently deployed in six countries, TIMOS has proven its effectiveness on South Korea's Nonsan-Cheonan Expressway.

Bitsensing's radar technology is not limited to automotive and smart city applications but also extends to digital health services, particularly in the area of sleep care. By monitoring sleep quality, apnea events, and limb movements, the radar system provides valuable data for analysis, including sleep scores, summaries, and lifestyle recommendations. With a total funding of $46 million since its inception, bitsensing is well-positioned to continue its growth and innovation in the radar technology sector.