WaveSense Secures $15 Million to Accelerate Next Generation ADAS and Autonomous Features.
Through a proprietary ultra-wideband radar, WaveSense creates a map of subsurface signatures from which self-driving and other ADAS-enabled vehicles can navigate. WaveSense says its GPR technology allows vehicles to localize and determine their precise location. Wavesense claim that current AV technologies, including lidar and camera-based systems, fall flat, especially when lane markings are inferior or in adverse weather and terrain conditions and areas with poor GPS availability.
"Safety is at the heart of the sensor revolution in automotive, and safety is about edge cases. Keeping a car in a well-marked lane on a sunny road in Arizona is different than driving through a winter wonderland in Boston. Reliable lane-keeping is solved uniquely by GPR, and in the last year, we have seen leading automakers and suppliers recognize that," said Carsten Boers, Managing Partner at Rhapsody Venture Partners. "This financing helps WaveSense staff up to accelerate our work with leading players in the market. We look forward to supporting WaveSense as they continue to establish GPR to safeguard and accelerate the autonomous driving experience."
WaveSense plans to advance the integration of their centimeter-level precision technology into consumer vehicles in collaboration with some of the world's largest automakers and suppliers. The company recently demonstrated centimetre-level localization accuracy and reliability on roads without lane markings, during a snowstorm, in a parking garage, and on unpaved terrain.
"By accelerating our product development and work with automakers, we're changing what is possible in terms of performance and safety for ADAS and autonomous vehicles," said Tarik Bolat, CEO of WaveSense. "With the assistance of this fundraise, WaveSense is laying the foundation for its path to market and is well-positioned to deliver results for hand-free lane-keeping, autonomous valet parking, and other next-generation features that will make vehicles safer and higher performing, even in road conditions that current sensors fail in."
WaveSense has an advisory board, including the former Ford Motor Company Automotive President, Joe Hinrichs, former General Motors CFO, Charles "Chuck" K. Stevens III, and Kurt Lehmann, former CTO of Continental.