S Korean radar tech startup Bitsensing raises $5.8m in pre-Series A round

The bitsensing team (Picture credits: bitsensing Inc.)

South Korean radar technology startup Bitsensing has raised $5.8 million in a pre-Series A funding round led by venture capital firm LB Investment and automotive supplier Mando Corporation.

Hansae, SB Partners also participated along with Future Play and SJ Investment Partners, according to an announcement. Mando has come in as a strategic investor.

Founded in 2018, Bitsensing claims to develop innovative radar-based sensing technology that is reliable, compact, multifunctional, and affordable to make everyday life safer.

Bitsensing’s radar sensors not only detect targets but also can track and map what is happening in any environmental setting in real-time without creating privacy issues or compromising performance in harsh weather.

The company said it will use the fresh funding to further enhance technology, expand offerings in key industries and grow its global presence and enhance global partnership.

“We believe their (Bitsensing) radar technology can be used not only in mobility industry but in other applications, creating a new market,” said Jason Koo, senior managing director of LB Investment (Formerly known as LG Venture Investment).

Bitsensing had previously raised $1.2 million in seed rounds. The new round brings the total equity financing of the company to $7 million.

The company recently has joined NVIDIA Inception program, Infineon Partnership, Plug and Play Japan for Mobility, Plug and Play Thailand for Smart cities.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.