Neural Propulsion Systems (NPS), a Pleasanton, CA-based software-defined radar company, raised $17.5M in Series B funding.
The round was led by Cota Capital with participation from GM Ventures, the venture capital arm of General Motors Co. (NYSE: GM), and RTX Ventures, the venture capital arm of RTX (NYSE: RTX).
The company intends to use the funds to further develop and apply its Atomic Sensing Platform to automotive radar technology.
Led by CEO and Founder Dr. Behrooz Rezvani, NPS develops digital imaging radar technology. Based on a radar algorithm system capable of running on a multitude of hardware platforms, its Atomic Norm Radar SW provides enhanced, reliable radar resolution and precision, enabling applications in the mobility and defense industries.
Commenting on the news, Behrooz Rezvani said: “By harnessing the potential of our newly developed radar technology, we can potentially achieve performance enhancements that are over 10 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.“
FinSMEs
08/03/2024