Robert Bosch Venture Capital (RBVC), the corporate venture capital company of the Bosch Group, has completed an investment in TetraVue, a leader in ultra-high resolution 3D data and imagery, which will help enhance the capabilities of automated vehicles.
This investment adds to the growing Robert Bosch Venture Capital portfolio of companies in the field of sensors and software for automated vehicles. RBVC invests worldwide in innovative startups at all stages of their development. Its investment activities focus on technology companies working in areas of current and future relevance for Bosch, including, automation and electrification, energy efficiency, enabling technologies, and automotive systems. RBVC is co-leading a US$10m Series A funding round, although no detailed figures have been released on its investment in TetraVue, which is based in Vista, California.
TetraVue’s technology helps to address the challenges associated with automated vehicles encountering unexpected and dangerous obstacles during operation. Bosch is dedicated to enhancing the development of the automated car industry, and TetraVue’s ultra-high resolution 3D lidar data and imagery is expected to help autonomous and highly-automated vehicles with the obstacle identification process. The startup’s technology can support Bosch to continue to be a leader in defining the future of this emerging market segment.
TetraVue was founded in 2008 and its core technology differentiation is its patented ‘light slicer’ technology, which uses time and distance measurements in order to find optical intensities using standard CMOS sensors. Using solid state technology with no moving parts, the company’s system is generally more efficient than other lidar methods. TetraVue’s Smart Vision products take an entirely new approach to Time of Flight (TOF) technology and is the successful result of several years of experimental research. The company’s innovative approach yields many benefits and USPs including higher reliability to meet automotive requirements, low latency, and ability to produce ultra-high resolution images for a wider range of distances at a lower cost.
“We are thrilled to have RBVC as a lead investor and partner,” said Paul Banks, founder and president of TetraVue. “Their expertise and knowledge of all the key players across the ecosystem has already benefited TetraVue with customer, supplier and investor access.”
Dr Ingo Ramesohl, managing director at RBVC, commented, “We are excited to have TetraVue as a strategic extension of our portfolio, which also contains companies, such as AIMotive and Chronocam.”
Bosch Ventures managing director Luis Llovera added, “TetraVue appears unparalleled to other existing technologies in the three-dimensional Flash lidar space. We see its technology as being key to the enhancement and development of the automated car industry, which will be the future of transportation as we know it.”
February 17, 2017