Uhnder raises $50 million in Series D funding to accelerate growth

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.

Uhnder has shipped over 200,000 of its next generation digital radar chips and 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, boasting 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. "Uhnder'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 which meet automotive qualifications and in production," Dr. Hegde said.

About Uhnder

Founded in 2015 by Dr. Manju Hegde and Curtis Davis in Austin, Texas, Uhnder is at the forefront of providing cutting-edge solutions to the automotive, industrial, and defense sectors, boasting a diverse array of applications ranging from safety to convenience.

To date, Uhnder has shipped over 200,000 radar chips to customers and has a robust pipeline of customers currently in the evaluation phase. This momentum underscores Uhnder's capability to meet the rigorous demands of the automotive, industrial, and defense sectors with its innovative radar solution.

Uhnder is pioneering the shift from traditional analog radar systems to digital code modulation (DCM) technology. With its innovative approach and patent-pending technology, Uhnder aims to significantly enhance accuracy in both azimuth and elevation measurements, paving the way for advanced driver-assistance systems (ADAS) and autonomous driving. Uhnder stands out as the sole provider of commercial digital radar chips and software, promising enhanced performance, reduced size, superior security, effective interference mitigation, and lower energy consumption.

For more information, please visit Uhnder's website.