Neural Propulsion Systems Secures Series B Strategic Investment from Raytheon Technologies

Rhea-AI Summary

Neural Propulsion Systems (NPS) has secured a Series B strategic investment from RTX Ventures, the venture capital arm of Raytheon Technologies (RTX). This funding will advance NPS's hyper-resolution digital imaging radar technology, aiming for a radar system with 10 times better resolution and 2.5 times greater range for mobility and defense applications. The radar market is projected to reach $28 billion by 2025, with NPS's AtomicSense platform poised to disrupt this industry by improving scanning speed and reliability. NPS's patented algorithms enhance radar performance, addressing complex challenges in mobility and defense.

Positive

• Series B investment from RTX Ventures may lead to significant technological advancements.
• NPS's AtomicSense platform promises 10x better resolution and 2.5x greater range.
• Projected $28 billion market opportunity by 2025 enhances growth potential.

Negative

• None.

Funding Will Enable NPS to Advance New Hyper-Resolution Digital Imaging Radar Technology

PLEASANTON, Calif.--(BUSINESS WIRE)-- Neural Propulsion Systems (NPS), a pioneer in hyper-resolution digital imaging radar technology, today announced a new Series B strategic investment by RTX Ventures, the venture capital arm of Raytheon Technologies (NYSE: RTX). The funding will help NPS develop next-generation radar technology able to provide 10 times better resolution and 2.5 times greater range for mobility and defense applications.

Radar is used across diverse industries, from automotive and mobility to aerospace and defense, with a total available market of $28 billion projected in 2025, according to Yole Group. Each of these use cases will benefit from increased scanning speed, resolution, reliability and range. Defense radars, in particular, require ever-greater resolution to deal with new threats.

“We invest in companies working on breakthrough innovation that can transform aerospace and defense,” said Dan Ateya, president and managing director at RTX Ventures. “NPS’ advances in radar technology will open the door for a great range of radar applications such as the defense of our airspace.”

NPS has successfully demonstrated game-changing radar performance to customers in the transportation and defense markets, showcasing order of magnitude performance gains over existing radar technology.

“We’re powering a new class of radar with groundbreaking performance advantages that are 10 times greater than possible with existing radar technologies,” said Dr. Behrooz Rezvani, founder and CEO at NPS. “NPS is poised to disrupt the $28 billion radar market. Leveraging our recent breakthroughs in algorithms based on a new mathematical framework, our AtomicSense radar platform dramatically transforms how sensor data is processed and understood, enabling a revolution in radar performance.”

NPS has developed a new class of patented algorithms enabling enhanced order of magnitude radar performance with game-changing applications in the mobility and defense industries. The award-winning AtomicSense Platform sets the standard for radar performance based on newly discovered mathematics, dramatically changing how sensor data is processed and understood.

About AtomicSense Technology

NPS AtomicSense technology uses new patented radar algorithms to achieve disruptively higher resolution, greater precision and superior reliability. Advances in radar technology enable vehicle operators to sense the most challenging and complex road environments, outperforming human vision. NPS radar performance is based on a new mathematical framework, the atomic norm, that transforms how sensor data is processed and understood. AtomicSense technology achieves revolutionary, never-before-seen radar performance that solves industry-level challenges and opens the door for the future of advanced driver assistance systems (ADAS), autonomous driving, and next-generation aerospace and defense systems.

About Neural Propulsion Systems (NPS)

Founded in 2018 by Silicon Valley luminaries, NPS develops digital imaging radar technology. Based on a radar algorithm system running on graphical processor units (GPUs), the NPS AtomicSense platform achieves radar performance that reaches the information-theoretic limits of what is mathematically possible, enabling groundbreaking applications in the mobility and defense industries. Find NPS on the Web, Twitter and LinkedIn.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230302005361/en/

Jeremy Hyatt

Green Flash Media for NPS

pr@gflashmedia.com

Source: Neural Propulsion Systems

FAQ

What is the significance of the investment by RTX Ventures in NPS?

The investment enables NPS to develop advanced radar technology with significant improvements in resolution and range.

How much is the radar market projected to be worth by 2025?

The radar market is projected to reach $28 billion by 2025.

What advancements does NPS's AtomicSense platform offer?

AtomicSense offers 10 times better resolution and 2.5 times greater range for various applications.

What industries could benefit from NPS's radar technology?

Industries such as automotive, mobility, aerospace, and defense could benefit from NPS's radar technology.