California, USA-based pioneer in software-defined radar, Neural Propulsion Systems (NPS) raised USD 17.5 million Series B funding round. The company announced the investment on March 7, 2024. Cota Capital led the financing for the company. Meanwhile, GM Ventures, the venture capital arm of General Motors Co. and RTX Ventures, the venture capital arm of RTX further contributed to the Series B.
Purpose of financing for NPS
The latest collaboration marks a transformative step in enhancing roadway safety. It further benefits pedestrians, drivers and all other traffic participants, as well as defence radar systems.
In addition, NPS has plans to develop and apply its award-winning Atomic Sensing Platform to automotive radar technology.
What the company’s official has to add
Dr. Behrooz Rezvani, Founder and CEO of NPS, said, “This investment confirms the value of our vision and technology. By harnessing the potential of our newly developed radar technology, we can potentially achieve performance enhancements that are over ten times greater than current radar capabilities, putting us at the forefront of revolutionizing the $28 billion radar market. Our radar software works with all radar hardware and significantly improves the performance of existing sensing platforms with lower cost and more efficiency.”
What the investors have to comment
Bobby Yazdani, Founder and Partner of Cota Capital, further said, “Behrooz and his team are achieving new benchmarks for advanced radar sensing technology. We recognize the significant impact NPS can have in the fields of mobility and defence systems, and our investment reflects Cota Capital’s commitment to groundbreaking innovation.”
Cota is a technology investment firm that partners with exceptional teams to build and grow timeless companies that enable the future. Cota delivers Knowledge Capital, a differentiated combination of deep operational expertise, know-how, impactful and data-driven market insights and intelligence, and a vast industry network.
Dan Ateya, President and Managing Director at RTX Ventures, said, “NPS’s continued focus on enhancing defense radar systems exemplifies the commitment that is needed to transform the aerospace and defense landscape. To protect against tomorrow’s threats, RTX Ventures looks to invest in companies working to solve the most complex challenges today and the NPS automotive radar technology does just that.”
About the company
NPS is a Silicon Valley startup that creates digital imaging radar technology. It was founded in 2018. The NPS Atomic Norm Radar SW is built on a radar algorithm system that can operate on a wide range of hardware platforms. It achieves performance that pushes the boundaries of mathematical possibility in information theory, opening up ground-breaking applications in the defence and mobility sectors.
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