Overview
- The Series B was led by VXI Capital with IBEX Investors, Capricorn Investment Group, The Engine Ventures and Lockheed Martin Ventures participating.
- Teradar reports paid development programs with five major automakers in the U.S. and Europe and collaborations with three Tier 1 suppliers, targeting readiness in 2027 and a first vehicle program in 2028.
- The company says its standard-silicon, solid-state design delivers up to 20 times the resolution of imaging radar at a price of a few hundred dollars.
- Teradar describes a bumper-mounted sensor with no moving parts that can see through rain, snow and dust and slot into existing radar locations.
- CEO Matt Carey estimates a $20 billion market by 2030 and notes potential defense, security and industrial applications beyond automotive.