SEOUL, South Korea, September 21, 2022 — Bitsensing, a 4D imaging radar solution provider based in South Korea, raised USD 10 million in Series A funding, bringing its total funded since inception to USD 21 million. AF WPartners, ARGES Private Equity, Mando Corporation, and other investors are included.
Bitsensing offers radar solutions for self-driving cars, intelligent traffic management. It is now extending its offerings to include the optimization of radars for use indoors with features for everyday wellness. The newly created wellness solution is the first in the world to give early-stage sickness prediction through the gathered sleep data, sleep analysis and lifestyle suggestions to improve sleep quality.
According to Dr. Jae-Eun Lee, CEO of bitsensing:
“it was a natural development to start developing technology for wellness applications.” “We are redefining industries for a safer and smarter future with our ground-breaking radars for smart cities and now wellness. By offering sleep care services and illness forecasts based on sleep data, we demonstrate how we are expediting the development of a fully autonomous vehicle environment and bringing smart wellness to individual lifestyles.”
A financial investment partner, AF WPartners provides a network of capital management consultants for businesses and technology that aim to innovate and improve the world. ARGES Private Equity invests in great companies with a growth focus to optimize investors’ returns. Mando Corporation is the most prominent Korean original equipment manufacturer and supplier to international car distributors.
The money will be used by bitsensing to enhance radar products and services across all business sectors and to concentrate on growing the company by breaking into new markets. Bitsensing will offer the next-generation imaging radar technology optimized for mass manufacturing with Mando’s strategic investment and partnership and eventually create the complete autonomous environment.
bitsensing was honored for its cutting-edge business strategy and expansion prospects. The business was named a Baby Unicorn the previous year and received the CES 2022 Innovation Awards Honoree designation.
More about the platform:
Bitsensing, a leader in imaging radar technology, aims to elevate connected living by creating cutting-edge sensor fusions and artificial intelligence (AI) solutions that provide unmatched intelligence to smart living. Bitsensing is one of the only companies supplying advanced solutions that meet and surpass the high degree of dependability and ease that the industry expects using automotive-grade radar technology. The company was founded in 2018 by seasoned specialists in automotive radar. Bitsensing is opening up new opportunities for the democratization of intelligent life in areas such as robotics, security, wellness, and other regions.
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