SEONG-NAM CITY, South Korea--(BUSINESS WIRE)--Smart Radar System, Inc., a leader in image radar technology for automotive and industrial applications announced that it has succeeded in attracting 11.2 Billion Korean Won ($10+ million USD) in investments from domestic and foreign venture capital and strategic investors. Despite the decline in corporate activities due to the COVID-19 pandemic, Smart Radar System Co., Ltd. was able to attract investments in Korea including Korea Investment Partners Co., Ltd, GU Equity Partners, and BSK Investment and globally, from investors, Hemi Venture in the U.S. and SPARX Group in Japan. In addition, Japan's NEXTY Electronics Corporation joins Smart Radar System Inc. as a strategic investor to assess the company's growth potential.
Smart Radar System Inc. was established in 2017 with its main business focused on the commercialization of autonomous vehicles, defense drones, vehicle occupant detection (in-cabin), weapon detection, and smart healthcare with its advanced image radar technology. Smart Radar System Inc. has been globally recognized for its technological superiority and growth potential. In 2019, Smart Radar System Inc. won the Prime Minister's Award at the Radio Broadcasting Technology Awards and was recently selected as a Global ICT Unicorn with the launch of its 4D image radar technology in 2020.
Smart Radar System Inc., featuring its 4D image radar technology has been evaluated as a company with advanced technology with great potential for commercialization when evaluated against competing global companies (Yole Development, 2019). Smart Radar System Inc.’s diverse and cutting-edge product lineup and acquisition of global customers give a glimpse of the company's growth potential. This is evidenced by the fact that global investors from Japan and Silicon Valley, U.S. have invested in the growth and future success of Smart Radar System Inc.
According to Paul YH Kim, CEO of Smart Radar System Inc., “We are committed to developing the most advanced and superior radar image technologies for the industries of security, robots, drones, weapons detection, and healthcare in addition to radars for autonomous vehicles. A long-term development roadmap and direction has been set for Smart Radar System Inc. to invest, develop superior products, and grow our business for the worldwide market to achieve our goal to become the global leader in radar image technology.”
About Smart Radar System Inc.
Sensors are the key to the next-generation technological disruption for most of the major industries. Smart Radar System Inc. consists of a talented group of engineers, specialists and elites who believe in the future of technology with devotion and passion for the radar sensor. With many years of research and development experience on RF antenna design, hardware mechanics, radar signal processing, software/algorithms to adoption of data-based machine learning & big data integration, Smart Radar System Inc. desires to obtain a global presence to provide technology that can benefit many industries & markets to become the #1 global market leader.
For more information about Smart Radar System, please visit: www.smartradarsystem.com