PreAct Technologies, a Portland, OR-based company which specializes in near-field software-definable flash LiDAR technology, closed a 2nd trance of $20M Series B funding.
The round was led by I Squared Capital, with participation from State Farm Ventures, Luminate, and Traylor Capital.
The company intends to use the funds to drive R&D of AI-based computer vision solutions, and expansion into industrial and other non-automotive applications.
Led by CEO Paul Drysch, PreAct Technologies is a company focused on near-field software-definable flash LiDAR technology. Its patent-pending suite of sensor technologies provide high resolution, affordable LiDAR solutions to a wide range of industries including automotive, healthcare, ITS, industrial, consumer electronics, robotics and trucking.
In January of this year, PreAct acquired AI-driven computer vision and gesture recognition company, Gestoos, which combines an AI algorithm development platform with PreAct’s flash LiDAR to create a unique environment to quickly solve difficult use cases such as in-cabin and cargo monitoring. Marrying an AI algorithm development platform with PreAct’s LiDAR gives the company a greater ability to intelligently process sensor data on the edge, as well as being less reliant on system integrators to deliver new applications or differentiated software-defined services.
The company also has offices in Ashburn, Virginia, Rochester, NY and Barcelona Spain.
FinSMEs
25/04/2023