TetraVue Raises $10 Million to Improve its Self-Driving Tech

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【Summary】TetraVue, a California-based technology company that is working on engineer tech for autonomous cars, received $10 million from various technology companies to give self-driving cars better eyesight.

Original Vineeth Joel Patel    Feb 24, 2017 1:15 PM PT
TetraVue Raises $10 Million to Improve its Self-Driving Tech

Automotive companies aren't the only ones scrambling to be the first ones to make the next generation of cars that are smarter and safer than ever. Technology companies with various backgrounds are working together, and even alone, to come out with new tech that can make self-driving cars even smarter. TetraVue is an example of one of those technology companies.

A New Take on LIDAR

TetraVue, a California-based technology company, has been working on Smart Vision products since 2008. The company is taking a different approach to flash LIDAR technology, which is predominantly used by self-driving cars to scan an environment using laser-powered light. As reported by Venture Beat, TetraVue revealed a prototype of a solid-state 3D camera that it's looking to sell to prospective buyers.

In a press release, TetraVue announced that it raised a total of $10 million in funding from various companies including Robert Bosch Venture Capital, Samsung Catalyst Fund, Nautilus Venture Partners, and Foxconn. The funding, as outlined in the release, will go towards TetraVue's Ultra High Definition, Solid State Flash LIDAR technology that will be used in self-driving cars.

"We are thrilled to share that TetraVue has officially closed its largest round of funding to date," said Paul banks, Founder and President of TetraVue. "Our passionate team has dedicated their careers to researching and developing the technology that TetraVue is today and we plan to use this financial support to continue to deliver state of the art 3D vision technology to enable smart vision for smarter machines."

Better Tech Equals Smarter Cars

When it comes to autonomous cars, being able to look ahead to avoid collisions is a necessity. With various factors like low-light conditions and inclement weather being able to affect self-driving cars' cameras and sensors, coming out with technology that would give autonomous cars better eyesight in all driving situations would prove to be beneficial.

According to TetraVue, its technology is capable of taking 2 million or more distance measurements in various weather conditions. And unlike LIDAR technology from other companies, TetraVue's isn't limited to the automotive industry. The company expects its 3D camera to be used in the engineering, robotics, manufacturing, and even in Virtual and Augmented reality applications.

The technology, though, would definitely help self-driving cars live in harmony with cyclists and non-self-driving vehicles alike. "TetraVue's LIDAR gives cars perfect vision, and allows them to maker better decisions," said Connie Sheng, Founding Managing Director at Nautilus Venture Partners. "Imagine a car being able to instantly determine if a black spot is a rock or a plastic bag."

As one would expect, TetraVue isn't the only company working on a LIDAR system that is better and more cost effective. Google's Waymo revealed that the LIDAR sensors on its self-driving vehicles are 90 percent more cost effective at last month's North American International Auto Show in Detroit, MI. According to reports, the black hat, which houses the company's LIDAR sensor, on top of Google's Koala car cost $75,000, while the one top of Waymo's branded vehicles costs $7,500. 

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