RadarEye Technology nets tens of millions of yuan in Pre-A round

The new startup in the millimeter-wave radar industry, RadarEye Technology has recently received a pre-A round of financing of tens of millions of yuan. The investor in this round was Plum Ventures.

The new startup in the millimeter-wave radar industry, RadarEye Technology has recently received a pre-A round of financing of tens of millions of yuan. The investor in this round was Plum Ventures.

After completing this round of financing, RadarEye Technology will expand the team of talents, deepen technology research and development, continue to promote product iterations and system upgrades, and is committed to building a radar network serving smart transportation, smart parks, smart cities and other scenarios in the future, and gradually grow into a “millimeter wave radar expert” in the Internet of Things era.

Established in 2018 in Shenzhen, RadarEye Technology develops and manufacturers radar products such as Internet of Things (IoT) sensor, monitoring radar, light radar, and drone, enabling enterprises to improve smart parking, building security, smart transportation, smart home, smart healthcare, and automobile safety.

As of May 2020, the cumulative shipment of 79GHz millimeter-wave radar of the company has exceeded 50,000 sets. It is one of the few Chinese companies that has achieved mass production of 79GHz millimeter-wave radar, and is also the only Chinese company that has achieved mass-production of 79GHz products before financing.

To date, the company’s products already have three 79GHz millimeter-wave radars with excellent performance in a large number of applications in smart parking, smart gas stations, smart buildings and other scenarios.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/14/radareye-technology-nets-tens-of-millions-of-yuan-in-pre-a-round/.

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