RADA Electronic Industries, which supplies military tactical radar systems, invested $ 3 million in RadSee from Herzliya, for about 12% of the shares, at a company value of $ 25 million. The agreement also gives Rada an option to increase its holdings in RadSee in the future. This marks Rada’s entry into the automotive market with the intention is to import technologies from RadSee into the world of tactical military radars in which Rada operates.
RadsSee was founded in 2017 by CEO Amnon Afgani and Chief Scientist Dr. Daniel Refaeli. The company is developing a vehicle radar for safety auxiliary systems (ADAS) and autonomous driving, designed to meet the demands of the automotive industry for high performance and low cost. It is based on a unique and patented design of antenna and off-the-shelf components designed to reduce costs – both for CPU and DSP 77GHz working radar components. The company has developed a unique algorithm that uses, among other things, elements of artificial intelligence and also allows the combination of the radar image with images coming from the vehicle’s cameras.
The algorithm developed by RadSee allows the radar system to produce a four-dimensional image (the three dimensions of space and the dimension of time) and discover and classify objects from a distance of 400 meters and at an angle of 120 degrees. RadsSee is still in development and has not yet reported commercial agreements.
For the year 2021, the company expects a further increase in revenue of 60%, to a volume of about $ 120 million. Sela: “Our strong ordering momentum, which began in mid-2019 and continued through 2020, has strengthened our confidence that we will reach revenues of over $ 120 million in 2021. Also, in light of the maturation of the plans for which we provide the radar systems, we order
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