PreAct Technologies raises $14 million in Series B

Lead by I Squared Capital, New Funding Will Drive Research & Development and Expansion Into Industrial and Other Non-Automotive Applications

PORTLAND, Ore., Jan. 5, 2023 PreAct Technologies today announced that it is a market leader for near-field software definable flash LiDAR technology. $14 million I Squared Capital led the Series B funding close. Additional participation in this round included State Farm Ventures®, Luminate, and Traylor Capital among other new and existing investors.

“PreAct has seen significant growth over the last year as more industries discover the power of high-quality 3D data that can tailor to users’ needs using software. This new funding round will allow me to capitalize on the overwhelming interest from multiple industries, including healthcare and robotics. Paul DryschPreAct Technologies CEO. “I am proud of my team and more excited to offer the market real solutions for their most pressing sensor case problems.”

PreAct’s sensor family is the first in the industry to be software-definable. It pairs with an SDK that allows for easy integration with other software systems. PreAct’s sensors offer high-quality point cloud at a lower price than other LiDARs. PreAct’s patent-pending sensors and software may replace or complement many short-range sensors such as radar, ultrasound, cameras and cameras. $30 Billion/year market.

In order to accurately and quickly map the environment, markets such as trucking, healthcare, smart buildings, smart homes, robotics, and healthcare require faster sensors. PreAct is here to help these users by providing reliable, affordable systems that can quickly be adapted to their existing software stacks. These systems are also continually updated to make it possible to create new use cases and increase system monetization.

PreAct Technologies

PreAct Technologies
PreAct Technologies is a market leader in near field software-definable flash LiDAR technology. The company’s patent-pending sensor technologies offer high resolution and affordable LiDAR solutions for a wide variety of industries, including automotive, healthcare, industrial, consumer electronics robotics, trucking, and ITS. The company is headquartered in Portland, OregonWith offices in Ashburn, Virginia, Rochester, NY Barcelona Spain. Contact us for sales inquiries [email protected]. For more information, please visit www.preact-tech.com.

About I Squared Capital
I Squared Capital, an independent global infrastructure investor manager, has over 450 employees. $36 Billion In assets under management, focusing on utilities and digital infrastructure, transport, environment, social infrastructure, and energy North America, Europe, Latin America Asia. The firm was established in 2012 and now has offices in Miami, London, New Delhi, Hong Kong, Singapore, Taipei Sydney.

Contact us for Press

Angela Simoes
415-302-2934
http://www.preact-tech.com

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SOURCE PreAct Technologies