Neural Propulsion Systems Completes $17.5 Million Series B

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">PLEASANTON<&sol;span><&sol;span> <&sol;strong>&&num;8212&semi; <u>Neural Propulsion Systems &lpar;NPS&rpar;<&sol;u><a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;4109653-1&amp&semi;h&equals;2455012876&amp&semi;u&equals;http&percnt;3A&percnt;2F&percnt;2Fnps&period;ai&percnt;2F&amp&semi;a&equals;&percnt;2C" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">&comma;<&sol;a> a pioneer in software-defined radar&comma; has secured a <span class&equals;"xn-money">&dollar;17&period;5 million<&sol;span> Series B funding round&period; The round is led by Cota Capital with contributions from <u>GM Ventures<&sol;u>&comma; the venture capital arm of General Motors Co&period;&comma; and <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;4109653-1&amp&semi;h&equals;2636227706&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;rtx&period;com&percnt;2Fwho-we-are&percnt;2Fventures&amp&semi;a&equals;RTX&plus;Ventures" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">RTX Ventures<&sol;a>&comma; the venture capital arm of RTX&period; This collaboration marks a transformative step in enhancing roadway safety &lpar;benefiting pedestrians&comma; drivers and all other traffic participants&rpar; and defense radar systems&period;<&sol;p>&NewLine;<p>NPS will use the investment to further develop and apply its award-winning Atomic Sensing Platform to automotive radar technology&period; The platform provides significantly enhanced&comma; reliable radar resolution and groundbreaking precision&period; The improved performance stems from a new mathematical framework known as the Atomic Norm &lpar;AN&rpar;&comma; revolutionizing how the raw sensor data is processed into relevant information&period;<&sol;p>&NewLine;<p>&&num;8220&semi;This investment confirms the value of our vision and technology&comma;&&num;8221&semi; said Dr&period; <span class&equals;"xn-person">Behrooz Rezvani<&sol;span>&comma; Founder and CEO of NPS&period; &&num;8220&semi;By harnessing the potential of our newly developed radar technology&comma; we can potentially achieve performance enhancements that are over 10 times greater than current radar capabilities&comma; putting us at the forefront of revolutionizing the <span class&equals;"xn-money">&dollar;28 billion<&sol;span> radar market&period; Our radar software works with all radar hardware and significantly improves the performance of existing sensing platforms with lower cost and more efficiency&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The NPS software-defined radar&comma; SDR&comma; achieves near maximum likelihood performance in detection — meaning&comma; the NPS proprietary software achieves close to what is theoretically possible with existing radar sensors&period; This advancement in radar technology enables clearer and earlier detection&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Behrooz and his team are achieving new benchmarks for advanced radar sensing technology&comma;&&num;8221&semi; said <span class&equals;"xn-person">Bobby Yazdani<&sol;span>&comma; Founder and Partner of Cota Capital&period; &&num;8220&semi;We recognize the significant impact NPS can have in the fields of mobility and defense systems&comma; and our investment reflects Cota Capital&&num;8217&semi;s commitment to ground-breaking innovation&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The National Highway Traffic Safety Administration&&num;8217&semi;s &lpar;NHTSA&rpar; proposed rule changes in <span class&equals;"xn-chron">May 2023<&sol;span> aim to significantly reduce roadway fatalities by strengthening regulations around automatic emergency braking &lpar;AEB&rpar; and pedestrian AEB &lpar;PAEB&rpar;&period; NPS&&num;8217&semi;s technology is poised to further assist companies and suppliers in meeting these new standards&comma; using less complex and more reliable sensors&period;<&sol;p>&NewLine;<p>&&num;8220&semi;NPS&&num;8217&semi;s continued focus on enhancing defense radar systems exemplifies the commitment that is needed to transform the aerospace and defense landscape&comma;&&num;8221&semi; said <span class&equals;"xn-person">Dan Ateya<&sol;span>&comma; President and Managing Director at RTX Ventures&period; &&num;8220&semi;To protect against tomorrow&&num;8217&semi;s threats&comma; RTX Ventures looks to invest in companies working to solve the most complex challenges today and the NPS automotive radar technology does just that&period;&&num;8221&semi;<&sol;p>&NewLine;