As the number of truck-related accidents continues to surge globally, tire-related incidents have emerged as a significant cause, accounting for over 30% of the accidents. Recognizing the critical need for proactive tire care and safety protocols, Korean startup BANF is making important strides in enhancing trucking and mobility safety through its state-of-the-art real-time tire profile technology.
Transforming Global Mobility with Tire Safety
Truck accidents have increased by 52% since 2009, and 74% of fatal passenger vehicle accidents involve large trucks, often due to tire-related defects. BANF’s technology aims to address these problems by providing comprehensive real-time data on tire pressure, temperature, wear, wheel alignment, and lug nut status. This innovative technology promises to prevent accidents, improve fuel efficiency by 20%, and significantly boost overall safety.
Adam You, CEO and Founder of BANF stated, “Our goal is to enhance cost-effectiveness, save lives, and preserve the environment by digitizing tires, which are the last analog domain in the mobility industry.”
Smart Mobility Through Advanced Technology
BANF’s smart tire sensor system introduces a sustainable solution for safer and more economical driving. The primary obstacle in real-time data transmission for tire-mounted sensors is “sufficient power supply.” High-speed rotating tires require precision balance, posing numerous limitations. Existing market attempts to power tire sensors have not succeeded in commercialization due to various issues. The wireless power solution tackles such power supply challenges for sensors attached to rotating tires, ensuring sustained operation and facilitating intelligent algorithms. The real-time data collection is swift and precise, thanks to cutting-edge time-domain signal filtering technology and frequency-domain algorithms that extract tire contact surface information.
Key Features of BANF’s System:
- iSensor: This real-time detection sensor features a self-developed 3-axis acceleration sensor, TPMS, and low-energy Bluetooth functionality.
- Smart Profiler: Provides wireless power to sensors within fast-spinning tires, directly linked to the vehicle battery for seamless operation.
- Data Viewer: Allows users to access analyzed data effortlessly through a dedicated program with a user-friendly interface.
Expansion and Recognition
Founded in 2020, BANF has raised USD 6 million with backing from prominent investors like IBK, Hana Bank, WeVentures, LS Venture Capital, Daeduk Venture Partners, Bluepoint Partners, and Samyang Chemical. The company expects its revenue for 2024 to be USD 3 million. BANF is targeting key markets across the US, Europe, China, and India, aiming to expand its influence globally.
BANF’s iSensor + Smart Profiler system is recognized as a top solution in real-time tire and road analysis, earning prestigious awards such as the Edison and CES Innovation Award 2024. BANF has formalized a PoV project with CampX by Volvo Group, focusing on improving real-time tire safety and fuel efficiency. This collaboration promises to redefine industry standards with a joint commitment to driving automotive innovation.
“As a leader in smart tire technology, we are pleased to present a new standard for safe and efficient vehicle operation through cooperation with Volvo Group CampX,” said Adam You. “We will increase our competitiveness in the global market.”
BANF’s groundbreaking technology is set to revolutionize the mobility industry, ensuring safer and more efficient trucking operations worldwide. With its innovative approach and strategic collaborations, BANF is paving the way for the future of smart tire technology, promising significant advancements in safety and efficiency on the roads.
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