Strategic Investments from DENSO, Toyota AI Ventures, and Hyundai Motor Company
Metawave WARLORD sensor and its AI capabilities (Graphic: Business Wire)
PALO ALTO, Calif.--(BUSINESS WIRE)--Metawave Corporation today announced it has raised an additional $10 million from strategic and financial investors for the development of a smart automotive radar system. The additional $10 million brings the total of Metawave’s investor funding to $17 million. This new funding round added five new strategic investors, including global automotive supplier, DENSO, who led the round, Toyota AI Ventures, Hyundai Motor Company and Asahi Glass. Participating original investors include Motus Ventures, Khosla Ventures, Autotech Ventures, Bold Capital, SAIC Capital, Western Technology Investment (WTI), and Alrai Capital. The automotive radar market is predicted to exceed $8.9 billion by 2024, according to Global Market Insights.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180515005064/en/