附近上门

Self-driving car sensor startup has raised $5 million in seed funding from , , , and others. Texas-based Fraser McCombs鈥攁 venture and growth equity investment firm focused on automotive technology鈥攍ed the round.

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In early 2017, Lunewave raised a pre-seed round of about $500,000 from the National Science Foundation鈥檚 and , an accelerator backed by MINI & Urban Us.

Tucson, Ariz.-based Lunewave plans to use the new capital to develop its radar and antenna technologies. The company manufactures specialized lens, antennas, and radar sensors that can act as the 鈥渆yes鈥� of self-driving cars, even at long range and in poor weather. Lunewave claims that its technology offers automakers a low-cost, powerful alternative to more conventional sensor systems. Lunewave also believes that because the technology is 鈥渉ighly customizable鈥� it can have applications in aerospace and wireless telecommunications.

The startup currently has 10 employees and is looking to expand to about 15 by the fourth quarter, according to CEO and Co-Founder John Xin. It鈥檚 specifically looking to expand its product development team and accelerate R&D efforts for its automotive sensor product.

Lunewave is an alumni company of , a MINI-backed accelerator for startups 鈥渞eimagining city life,鈥� and and Mobility Innovation Platform. It鈥檚 also the first company to work with BMW鈥檚 Startup Garage program and receive investment from BMW i Ventures.

When asked if its investors would take issue with its technology being used in other automakers鈥� vehicles, Xin told 附近上门 News via email that all of its investors are 鈥渧ery supportive of Lunewave working with other automotive manufacturers to bring this exciting technology to the industry. At the moment, Lunewave is excited to continue exploring business opportunities with several global automotive players.鈥�

In particular, he said Lunewave is working to create 鈥渕eaningful鈥� strategic partnerships to continue defining future products and to prepare for mass production.

鈥淟unewave has demonstrated the power of their product and their ability to innovate in the autonomous vehicle space in a way that offers significant value to global OEMs,鈥� said , Managing Director of URBAN-X, in a written statement.

, managing partner at FMC, will join Lunewave鈥檚 board of directors.

鈥淲e believe Lunewave is building a game-changing radar to transform automotive sensing for ADAS and autonomous applications in all weather conditions,鈥� said Norman in a written statement.