BROOKLYN, N.Y.--(BUSINESS WIRE)--Actasys, Inc. (Actasys), a leader in applying aerodynamic principles to solve critical problems in the automotive and mobility industries, announced that it recently closed a $5M seed funding round. The investment was led by prominent automotive and mobility investors Volvo Cars Tech Fund and NextGear Ventures.
Actasys’ core technology, the ActaJet™ system, is an electronically controlled array of small actuator cartridges that generate strong jets of air without the need for rotary fans or compressors. The ActaJet system offers multiple safety and efficiency solutions to the automotive and mobility sectors. The lead ActaJet product is for the cleaning and clearing of sensors on vehicles and smart mobility systems. Sensors, such as Lidars, cameras, and infrared sensors, require clear surfaces to ensure optimal operation and safety. Clean sensors enable achievement of higher levels of assisted driving (ADAS) and ultimately autonomous operation. Actasys is working with Volvo Cars to develop an ActaJet sensor cleaning system for use on Volvo cars.
“We are pleased to have such knowledgeable and experienced investors supporting us, recognizing the acute need for sensor cleaning and our potential to greatly increase safety and operations across a wide range of environmental conditions,” said Miles Flamenbaum, CEO of Actasys. “Just one raindrop can alter sensor vision and perception. Our ActaJet system can restore that perception without expensive or difficult to integrate mechanical solutions, placing us in a unique position to enable the automotive and smart mobility industries to achieve a transformation of transportation.”
"We at Volvo Cars are focused on providing customers with the safest and most advanced driving experience,” said Pratik Budhdev, Global Investment Director, of Volvo Cars Tech Fund. “Actasys sits uniquely at the intersection of safety and enabling innovative vehicle driving technologies, which supports our strategy.”
“Actasys has been working with us through Drive's flagship program, FastLane, for the past year to refine their value proposition and business model and to foster relationships with leading OEM’s and Tier-1 suppliers,” said Dr. Tal Cohen, NextGear Ventures Managing Partner and Drive TLV Co-Founder. The market will be dominated by cars and devices equipped with multiple smart sensors that need to be cleaned in order to be effective. We were impressed by Actasys' unique sensor cleaning technology and their ability to solve critical problems in several industry sectors. The market opportunity size, the company's technological advantages and commercial traction, combined with a great team, gave us confidence in their ability to be successful.”
Actasys currently works with leading automotive and transportation companies to address needs for sensor cleaning in the vehicle sector as well as for other sensor critical uses such as robots, camera systems, and traffic monitoring. ActaJet products are also being developed for cooling of electronic components and electric vehicle battery packs as a smart, adaptive replacement of rotary fans or compressed air.
About Actasys, Inc.
Actasys is a development stage company commercializing its unique ActaJet technology for sensor cleaning and advance cooling systems and is establishing leadership in critical areas to enable the safe and efficient future of the automotive and mobility industries. Actasys has multiple product development partnerships with leading automotive and transportation companies and is backed by prominent automotive and mobility investors. For more information, please visit www.actasysinc.com.