DAYTON, Ohio, Sept. 14, 2021 (GLOBE NEWSWIRE) — Oculii today announced a strategic investment from GM Ventures, the investment arm of General Motors focused on investing in mobility-related start-ups developing advanced technology for use in future vehicle applications, manufacturing facilities and operating businesses. Oculii has a unique Virtual Aperture Imaging™ (VAI) software. It takes the market-proven reliability of radar and improves its resolution exponentially. The technology, which can be deployed on any radar hardware platform, enables high-performance, all-weather sensing that can be scaled to fit the needs of global automotive companies. As part of the investment, GM will explore the use of Oculii’s VAI software in future mobility use cases.
“We’re thrilled to have the benefit of learning from their vast experience, while also helping them accelerate their role as one of the cutting-edge innovators in driver and driverless safety,” said Oculii’s Co-Founder and Chief Executive Officer, Steven Hong.
“General Motors is committed to investing in and implementing technologies that support the company’s broader vision of a world with zero crashes, zero emissions, and zero congestion, and our collaboration with Oculii to advance radar technology supports this effort,” said Wade Sheffer, Managing Director, GM Ventures.
Oculii is creating a next-generation AI software platform for radars that’s exponentially higher resolution, longer range, more accurate, and less expensive than conventional solutions – increasing safety and reliability. The promise of autonomous vehicles depends on high-performance, all-weather, low-cost, and scalable perception technology, and Oculii is bringing it to the world. The company has raised more than $80 million from leading investors and strategic partners and is headquartered in Dayton, Ohio, with offices in Silicon Valley and Beijing. For additional information, please visit www.oculii.com.
Media Contact: Jillian Smith, [email protected]
A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/924d7458-fdf3-46f8-804e-9c894a9d45a2