Smart Radar System, Inc. has reportedly attracted more than $10 million (11.2 Billion Korean Won) in investments from foreign and domestic venture capital & strategic investors. The radar solutions developer was able to significantly attract investments despite the escalating economic downturn and decline in the corporate activities amid the coronavirus pandemic.
Korean investors include BSK Investment, GU Equity Partners, and Korea Investment Partners Co., while global investors include SPARX Group in Japan and Hemi Venture in the United States. Apart from these investors, Japan-based NEXTY Electronics Corporation also joins the list of the strategic investors of Smart Radar System to assess its growth potential.
Established in 2017, Smart Radar System has been focusing on the commercialization of smart healthcare, weapon detection, vehicle occupant detection, defense drones, and autonomous vehicles by using its advanced image radar technology. The company has also been known globally for its technological advancements and growth potential. For example, it was chosen as a Global ICT Unicorn for launching a 4D image radar technology in 2020.
Smart Radar System is well-recognized for its advanced technology and high potential for commercialization as compared to other global companies. Its enhanced potential is evident from its cutting-edge and diverse product lineup, as well as the attainment of customers across the globe. Several investors in Japan & Silicon Valley, the U.S. have made investments for the company’s future growth and success.
As per the statement made by Smart Radar System’s CEO, Paul YH Kim, its team has been committed to developing superior and advanced radar image technologies for the healthcare, weapons detection, drones, robots, and security industries. The company also develops radars for autonomous vehicles. Additionally, it has formed a long-term development roadmap to develop and invest in superior products as well as expand its business in the global market, with an aim to reach its target of becoming a leading provider of radar image technology.