SOUTHFIELD, Mich., Nov. 5, 2019 /CNW/ -- DENSO, the world's second largest mobility supplier, today announced it led the Series A funding round for Metawave Corporation, a leading startup revolutionizing the future of radar sensing for automated driving and wireless solutions for 5G deployments. In backing the company, DENSO will harness Metawave's technologies to accelerate development of a smart radar system for autonomous cars. Other Series A participants included new Metawave investors, Mirae Asset Capital and NTT DOCOMO Ventures, and existing Metawave investor, BOLD Capital Partners. DENSO first invested in Metawave in 2018.
Today's sensors alone cannot meet the safety and smooth-riding requirements of automakers. That's why Metawave is conducting groundbreaking work in radar sensing with its state-of-the-art analog radar, which provides longer range, higher resolution, and greater angular accuracy and intelligent object classification compared to traditional radars. Such traits allow automakers to provide vehicles with next-generation adaptive cruise control, lane change assist and automated emergency braking. Put together, these analog-radar enabled features increase road safety and the likelihood that increasingly advanced driver assistance systems are accepted in the long-term.
"We've been working with Metawave since its founding and are continually impressed with the innovation their team creates and delivers," said Tony Cannestra, director of Corporate Ventures at DENSO, and Metawave board member. "Automakers are betting big on autonomous vehicles and one of the many things they need to make that a reality is innovative radar systems. DENSO is excited to continue to partner with Metawave and leverage their impressive technology as we continue to quickly create new value in the mobility industry."
In addition to radar sensing, Metawave is developing its leading-edge TURBO™ active repeaters and ECHO™ passive relays to support the implementation of 5G. These platforms offer faster, more efficient, and more economic 5G deployments to bring high-speed and reliable connectivity to billions of users in cities, office buildings, stadiums and under-serviced areas around the world.
"As demands change in mobility and connectivity, we're proud to work with our automotive partners, like DENSO, to advance radar capabilities in vehicles, and with our telecom customers to provide 5G solutions. Even though we are a young company, we're playing a key role in helping to create a future where roads are safer and society is more efficient and productive," said Maha Achour, founder and CEO of Metawave.
DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.
In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In fiscal year ending March 31, 2019, DENSO in North America generated $10.9 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: www.densocareers.com. For more information, go to https://www.denso.com/us-ca/en/.
For further information: Andrew Rickerman, DENSO International America, Inc., (248) 372-8342, [email protected], http://www.densocorp-na.com