Neural Propulsion Systems Wins $17.5M Funding to Elevate Road Safety with Cutting-Edge Radar Technology
Portfolio Pulse from Anusuya Lahiri
Neural Propulsion Systems (NPS) has secured a $17.5 million Series B funding round led by Cota Capital, with contributions from GM Ventures and RTX Ventures. The funding will be used to develop NPS's Atomic Sensing Platform for automotive radar technology, aiming to enhance road safety and defense radar systems. The technology promises over 10 times the performance of current radar capabilities, potentially revolutionizing the $28 billion radar market.
March 07, 2024 | 2:10 pm
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General Motors Co. (GM) contributes to NPS's Series B funding, aiming to enhance road safety with advanced radar technology.
GM's investment in NPS indicates a strategic move to enhance automotive safety technologies, which could lead to advancements in GM's own vehicle safety features and potentially increase its market competitiveness.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
RTX, through RTX Ventures, participates in NPS's funding round to advance radar technology for defense and road safety.
RTX's contribution to NPS's funding round is a strategic investment to improve radar technologies, which could enhance RTX's offerings in defense systems and potentially open up new markets or applications.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80