PreAct raises $20m

Author: EIS Release Date: May 4, 2023

PreAct Technologies of Portland, Oregon – the  software-definable LiDAR specialist – has completed a $20 million in the series B round

 

Investors included I Squared Capital, State Farm Ventures, Luminate, and Traylor Capital among others,.

 

Last January, PreAct acquired  computer vision and gesture recognition company, Gestoos, which combines the company’s  AI algorithm development platform with PreAct’s  LiDAR  to  solve difficult use cases such as in-cabin and cargo monitoring.

 

Marrying an  AI algorithm development platform with PreAct’s LiDAR gives the company the  ability to process sensor data on the edge, as well as being less reliant on system integrators to deliver new applications or differentiated software-defined services.

 

Automotive, healthcare, smart buildings, consumer electronics, robotics and trucking markets require more powerful sensors capable of mapping their surroundings.

 

PreAct supports these users with systems that can be tailored to integrate with their existing software stacks and upgraded to enable new use cases for system monetisation.