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Metawave Secures Additional $26M In Convertible And Debt Financing To Accelerate Delivery Of Mobility Sensing Solutions

PRIVATEJun 14, 2022•almost 4 years ago

Amount Raised

$26 Million

Carlsbad

Description

Metawave Corporation, a world leader in high-end sensing and perception solutions for terrestrial and aerospace mobility applications, today announced that it has secured $26M in convertible and debt financing. A prelude to a forthcoming Series B funding, this interim financing round will be used to deliver the Metawave MARCONITM 77GHz and POLARISTM 24GHz product lines – the mobility industry’s first beamformer chip and antenna module solutions to address the increased demands for long-range Aerial sensing and Advanced Driver Assist Systems (ADAS) to detect vehicles, motorcycles, pedestrians, and other objects at longer range with high resolution and accuracy. To date, Metawave has raised over $60M in funding from financial and strategic investors.

Company Information

Company

Metawave Corporation

Location

Carlsbad, New Mexico, United States

About

Metawave is pioneering disruptive millimeter wave technologies that accelerate the transition to highly automated and fully autonomous ground and aerial vehicle operation meeting safety and emerging services goals. With its patented, high-resolution all-weather imaging SPEKTRA radar modules, and associated software stacks, Metawave is delivering the missing sensor with unmatched long-range sensing and perception based on novel machine learning and AI to automotive, tracking, trains, aerial and drone customers. Its SPEKTRA™ radar is the first automotive analog beamsteering radar with resolution capable of distinguishing objects close to each other, in difficult driving scenarios and in all-weather conditions, making cars safer and smarter. Metawave TURBO™ active repeaters and KLONE™ passive reflectors enable faster, more efficient, and lower cost 5G deployments, bringing connectivity to billions of users both indoors and out. Metawave’s AWARE™AI object classification platform is the first demonstration of real-time radar object classification. Founded in 2017, Metawave is headquartered in Carlsbad, CA. Visit us at www.metawave.com, email us at info@metawave.com, and follow us on Twitter @metawavecorp, LinkedIn, and YouTube.

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