Early-stage technology-focused VC fund Inflexor Ventures on Wednesday said it has invested an undisclosed sum in Steradian Semiconductors, which is developing 4D imaging radar solutions for autonomous vehicles.
Through Inflexor Technology Fund, Inflexor Ventures will invest in pre-series A to series A+ startups in the B2B/enterprise space. Last month, it had announced the first close of its Rs 500 crore fund at Rs 230 crore.
This investment will be used by Steradian to accelerate product development and scale-up in the global markets, a statement said.
“Steradian has opened a new world of safe autonomous driving systems with its innovative and commercially viable radar solution. Our customers and commercial partners have validated the solution on-field in trials and endorsed the capability of our high-resolution imaging radar technology,” Steradian Semiconductors co-founder and CEO Gireesh Rajendran said.
Incorporated in 2016 by Gireesh Rajendran, Ashish Lachhwani, Apu Sivadas, Rakesh Kumar and Alok Joshi, Steradian develops ultra-high-resolution 4D imaging using radar technology to sense the surroundings and detect velocity. Along with their AI-based algorithms, the solutions deliver a real-time detailed image like optical sensors.
These sensors are used in the automotive industry and enable various driver assistance features, including a fully autonomous vehicle. The company has also developed solutions for traffic monitoring and smart city projects.
“As the world moves towards higher levels of automation, we see their technology play a vital role in the automotive industry. With our focus on backing companies with deep tech and technology IP that can scale globally from India, we feel Steradian is poised for its next stage of growth and we are excited to partner with them,” Venkat Vallabhaneni, Managing Partner at Inflexor Ventures, said. PTI