TLDR:
Neural Propulsion Systems has secured a $17.5 million Series B funding round led by Cota Capital, GM Ventures, and RTX Ventures. The funding will be used to further develop their Atomic Sensing Platform for automotive radar technology, with the goal of revolutionizing the radar market with enhanced performance and efficiency.
Summary:
Neural Propulsion Systems (NPS) recently announced that they have secured a significant $17.5 million Series B funding round, with contributions from industry leaders such as Cota Capital, GM Ventures, and RTX Ventures. This funding will enable NPS to further develop and apply their award-winning Atomic Sensing Platform to automotive radar technology, with the aim of enhancing roadway safety and defense radar systems.
The Atomic Sensing Platform developed by NPS offers significantly improved radar resolution and precision, thanks to a new mathematical framework known as the Atomic Norm (AN). This revolutionary approach transforms raw sensor data into relevant information, leading to performance enhancements that are over 10 times greater than current radar capabilities. Dr. Behrooz Rezvani, the Founder and CEO of NPS, expressed optimism about the potential of their radar technology to revolutionize the $28 billion radar market.
One of the key benefits of NPS’s radar software is its compatibility with all radar hardware, offering improved performance for existing sensing platforms at a lower cost and increased efficiency. This technology has the potential to benefit pedestrians, drivers, and all other traffic participants by enhancing roadway safety and defense radar systems.
The collaboration between NPS, Cota Capital, GM Ventures, and RTX Ventures represents a transformative step in the radar technology industry, with the goal of driving innovation and efficiency in radar systems. With the financial support from this funding round, NPS is poised to lead the way in revolutionizing the radar market and advancing the field of automotive radar technology.
