Xavveo has successfully raised $8.6M in Seed funding for photonic radar for AVs that increase sensory trust in unpleasant circumstances.
Self-driving freight technology startup Xavveo has boastfully raised an $8.6M Seed funding round. Stemming from DeepTech venture capital firms Vsquared Ventures and imec.xpand, this funding comes at the right time to propel Xavveo’s distributed Photonic Radar system.
Photonic Radar:
Xavveo’s photonic radar system will be able to give a LIDAR-like accuracy of less than 0.1° in the surroundings of vehicles. This technology allows AVs to have a sensing system capable of operating in all weather conditions, such as fog and heavy rains, a disadvantage that the current LIDAR and vision sensors do not handle well.
More for Engineering and Strategic Alliance:
Xavveo will use the fresh funds to expand its engineering team and forge collaborations with car manufacturers and technology firms. This cooperation is necessary for perfecting AV technology and reaching the deployment of significant numbers of systems.
Related Content: Oxbotica snaps further €130 million in a Series C round
Beyond Autonomous Vehicles:
Xavveo designs technologies that can be applied to industries like industrial, defense, and consumer sectors while focusing primarily on AVs. This flexibility drives Xavveo’s vision for a new generation of sensor solutions.
Xavveo CEO, Dr Sven Otte said that autonomy is probably one of the biggest engineering endeavours ever seen. Backed by Vsquared Ventures and imec.xpand, Xavveo is ready to become an important driver of the improvement of AVs’ safety and reliability on the way to the future of sustainable and accessible mobility.
