Korean startup Bitsensing Inc. is aiming to build a RADAR Infrastructure on the road for better Road Safety especially in the era of Autonomous Vehicles. The company has developed a radar device with embedded sensors using IoT technology that works for smart surveillance, weather forecasting, autonomous driving and traffic management.
Phase-wise development for safe Autonomous Driving
Autonomous Vehicles require good resolution, large range and weather resilient sensors for safe operations. The sensors available in the market do not fulfill all the requirements. This is where Bitsensing’s radar device can be very useful. The 4D imaging system of the Radar device can sustain in all weather conditions and even works well in harsh environments such as fire or heat. The Radar has GPS and Wi-Fi enabled, which means it can be used anywhere, anytime. The compact device is easy to assemble, reasonably priced and is readily available for use. Besides its AV functioning, the Radar is also useful for smart surveillance, forecasting any natural hazards and traffic management.
Bitsensing Inc. has planned out a phase-wise development for the technology. The first phase is developing 4D Imaging Radar for traffic has been completed. The startup has engaged Sejong City authorities in South Korea for test installation of the pilot project and got a pilot project for road safety enhancement in Vietnam. The second phase is where the startup intends to progress to ADAS (advanced driver-assistance systems), which is expected to be completed by 2020. The third phase is the most advanced sensor for safe Autonomous Driving. The startup expects that once complete Radar infrastructure is established along with the 4D Imaging Radar, there will be full integration of information available on the roads, allowing Autonomous Driving more safe and reliable experience.
Raising funds to succeed in ‘safety’ mission
Since developing 4D Imaging RADAR is a time-consuming process, the startup must raise funds for the development phase. The startup has raised its seed money, government funding and Research & Development funds of $3.7 million. The startup used the investment for preparing for mass production, testing vehicles, scaling the team and for patenting and legal fees. The company now is open to more investments to speed up the 4D imaging Radar Development, scaling teams for international markets, and for fleet testing in Korea and the US., Bitsensing is aiming to raise $10 million for the Series A round.
Bitsensing Inc. has a strong team of experts in automotive radar technology led by Jae-eun-Lee. Bitsensing team is attending the RISE conference in Hong Kong for the purpose to raise funds. RISE is to be held from July 8 to 11 and is supported by the Korea Institute of Startups & Entrepreneurship Development (KISED). The RISE Tech Conference attracts many prominent leaders from global companies, major media outlets and influential investors to Hong Kong.