Korean cutting-edge radar solutions company Bitsensing has successfully secured a Series B investment of 25 million USD. The funding round saw continued support from existing investor HL Mando, along with new investors such as Korea Development Bank, Industrial Bank of Korea (IBK), Woori Financial Capital, Life Asset Management, and SCL Investment, bringing the total investment amount to 63 billion KRW.

Founded in 2018 by automotive radar experts, Bitsensing is focused on developing innovative solutions based on automotive-grade radar technology for applications in autonomous driving, smart cities, and digital healthcare.

Starting with just three employees at its inception, the company has experienced rapid growth to reach 86 employees by 2024, with 70% dedicated to R&D efforts spanning hardware to software solutions developed in-house. Notably, Bitsensing recently achieved the highest rating of TI-1 from NICE Technology Credit Rating and was designated as a national core technology.

Bitsensing has demonstrated success in various sectors, including automotive radar where it is engaged in mass production development with global automotive Tier1 companies and collaborating with leading semiconductor firms on next-generation radar solutions.

In the smart city domain, its solutions are operational on domestic roads and are set to be deployed in Verona, Italy, as part of the K-City project.

In digital healthcare, its sleep care solution is in use in hospitals and nursing facilities, with plans to integrate the software into smart applications of major electronics manufacturers through a strategic partnership with a global semiconductor company.

With this latest investment, Bitsensing aims to bolster its R&D capabilities, expedite global market entry, and drive corporate growth through strategic global partnerships.

Bitsensing CEO Lee Jae-eun emphasized the company’s vision of “Radar Everywhere, Better Life with Radar,” focusing on delivering a safer and more convenient environment through radar technology. Lee expressed confidence that the investment will enable Bitsensing to enhance its global market presence by offering differentiated performance and reliability that align with evolving technological trends such as SDVs, autonomous vehicles, smart cities, and IoT with more innovative solutions.