Novelda, an Oslo, Norway-based developer and supplier of adaptive smart sensors, closed a USD15m funding round.
The round was led by Investinor, with participation from Alliance Venture.
The company intends to use the funds to further develop and take the XeThru radar sensor technology into high volume applications.
Led by Cornelia Mender, CEO, Novelda develops smart sensor technology based on low power UWB Impulse radar. The radar System-on-Chip (SoC) technology forms the basis for developing non-intrusive contactless sensors towards a range of applications within consumer electronics, smart buildings, vital signs monitoring and human safety.
The company’s XeThru sensors utilize extremely low energy GHz radio waves and advanced signal processing, which makes them suited to a range of applications. Novelda also has offices in U.S. and Hong Kong.