AUSTIN, Texas, Feb. 21, 2024 (GLOBE NEWSWIRE) — Uhnder, the technology company on a mission to create the most advanced radar sensors for safe and automated mobility of both people and goods, announced today a $50 million Series D raise. The round was led by ACME Capital with participation from Magna, Qualcomm Ventures, El Camino Capital, Monta Vista Capital, Sagitta Ventures, and HT Capital. The funding will be used to accelerate the company’s growth, increase production capacity, and expand their research and development efforts.
It has shipped over 200,000 of its next generation digital radar chips. The company has dozens of customer engagements in the automotive, industrial, and defense sectors. This investment will enable Uhnder to materially expand its market presence.
Hany Nada, Co-Founder and Managing Partner at ACME Capital, praised Uhnder’s innovation, highlighting its unrivaled security and performance. “Uhnder produces the only radar in the world that is virtually impervious to spoofing by bad actors. It boasts best-in-class performance and robustness against interference,” Nada remarked.
Echoing this sentiment, Boris Shulkin, Executive Vice President and Chief Digital and Information Officer at Magna International, commended Uhnder’s breakthrough in radar technology. “It’s single-chip 4D digital radar offers accurate scene representation with rich, high-resolution information previously unattainable. It’s a proven System-on-a-Chip solution that’s available to meet the high-performance perception needs in the market,” Shulkin stated.
Dr. Manju Hegde, CEO of Uhnder, expressed gratitude for the strong support from investors and the market. “We are excited with the positive response to our mass-market secure imaging radar chip and software. Both of these meet automotive qualifications and are in production,” Dr. Hegde said.
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