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PORTLAND, Oregon — PreAct Technologies, a global leader in near-field software-definable flash LiDAR technology, announced a USD 14 million Series B investment round headed by I Squared Capital.  Luminate, and Traylor Capital, State Farm Ventures among other new and current investors, also participated in this round.

As the industry’s first sensor designed from the start to be software-definable and paired with a comprehensive SDK enabling ready integration with existing software stacks and other systems, PreAct’s family of sensors provides high-quality point clouds at a much lower cost than other LiDARs on the market. PreAct’s patent-pending sensors and software supplement or may even replace various short-range sensors such as radar, ultrasound, and webcams, which are estimated to be worth USD 30 billion annually.

“PreAct has experienced great growth over the past year, as more industries discover the power of high-quality 3D data that can be tailored to users’ needs via software and backed by a powerful SDK to include an AI development platform,” said Paul Drysch, CEO of PreAct Technologies. “I’m pleased with our team, and I’m even more enthusiastic about giving actual answers to the market’s most pressing sensor use case concerns.”

Automotive, healthcare, smart buildings, consumer electronics, robots, and trucks demand more sophisticated sensors that can scan their environment quickly and precisely. PreAct’s objective is to provide these users with dependable and cost-effective solutions that can be swiftly configured to interact with their existing software stacks and are constantly upgraded to enable new use cases for better system monetization.

About PreAct Technologies:

PreAct Technologies is the industry leader in software-definable near-field flash LiDAR technology. Its patent-pending sensor technology provides high-resolution, low-cost LiDAR solutions in various industries, including automotive, healthcare, ITS, industrial, consumer electronics, robotics, and transportation. The company is based in Portland, Oregon, with offices in Ashburn, Virginia, Rochester, New York, and Barcelona, Spain.

About the Investor:

I Squared Capital is an independent global infrastructure investment manager with over USD 36 billion in assets under management in North America, Europe, Latin America, and Asia, focusing on utilities, digital infrastructure, energy, transportation, environmental infrastructure, and social infrastructure. The business, founded in 2012, has offices in New Delhi, Miami, London,  Hong Kong, Singapore, Taipei, and Sydney.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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