Bitsensing, a South Korean radar technology startup, has raised $5.8 million in a Pre-Series A round of funding, despite the COVID-19 impact on financial markets. This round was led by LB Investment, a leading venture capital in South Korea, and Mando Corporation, a South Korean global Tier 1 automotive supplier, participated as a strategic investor. Hansae, SB Partners also participated along with Future Play and SJ Investment Partners from a previous round.
Bitsensing is developing innovative radar-based sensing technology that is reliable, compact, multifunctional, and affordable to design safer everyday life, that can be available for everyone. Bitsensing’s radar sensors not only detect targets but also can track and map what is happening in any environmental setting in real-time without creating privacy issues or compromising performance in harsh weather. Bitsensing’s radar sensors can be used in autonomous driving and other industries.