GPR announces Series A funding on back of customer traction

GPR announces Series A funding on back of customer traction
by Staff Writers
Somerville MA (SPX) May 19, 2023

GPR, the world's only provider of Ground Positioning Radar, have announced it has secured an undisclosed amount of Series A funding led by top technology investor Rhapsody Venture Partners.

GPR's technology enables precise - centimeter level - vehicle localization in all visibility circumstances. Precise localization is an unresolved issue for vehicles in limited visibility environments such as snow, heavy rain and fog, and in unstructured environments such as mining sites, sidewalks, ports, tarmacs, etc. Currently, Global Navigation Satellite Systems (GNSS) sensors are complimented with cameras and Lidar systems to overcome the GPS limitations, but these systems rely on clear above ground visibility.

GPR is unique in its approach to look underground, scanning the ground below the road and creating a 3-D map of the road's unique subsurface signatures. This map then allows reliable and precise localization, no matter the aboveground visibility conditions.

"Over the past months, we've seen an exciting influx of customer demand for our solution," said Moran David, Chief Executive Officer of GPR.

"Customers from all sectors are recognizing that the past approach to localization produces too many blackouts. There's always been a great deal of curiosity for our solution and the recent completion of our MVP has now unlocked a swath of customer projects. Securing this Series-A allows GPR to serve its lighthouse customers and meet demand through the commercialization and industrialization of our technology. We are planning to be on thousands of vehicles in 2024."

"GPR is fundamental to create safe advanced driving systems," said Carsten Boers, Managing Partner at Rhapsody Venture Partners.

"You can't have reliable self-driving without knowing your precise location. The market was betting that localization would solve itself with enough computation of miles, but that bet is lost. The complexity of above ground data, paired with imperfect visibility conditions in the real world make the past approach not reliable enough. We're excited about the potential for GPR's first commercial deployment and for it eventually to become a safety standard."

SpaceDaily Analyst Report
Analyst A - Autonomous Vehicle Technologies Analyst Rating: 10/10

From the perspective of an analyst specializing in autonomous vehicle technologies, this article holds high relevance. GPR's technology addresses one of the critical challenges facing autonomous vehicles - precise localization in limited visibility and unstructured environments. The primary audience for this perspective would include autonomous vehicle manufacturers, technology developers, and investors in this space.

Analyst B - Investment and Venture Capital Analyst Rating: 8/10

For an analyst focusing on investment and venture capital, this article is relevant. The securing of Series A funding for GPR indicates confidence from investors in the potential of GPR's technology. The details about the funding and the investing firm would be of interest. The primary audience from this perspective would be investors, venture capitalists, and financial analysts.

Analyst C - Geospatial Technologies Analyst Rating: 9/10

As an analyst specializing in geospatial technologies, this article carries significant relevance. GPR's ground radar technology and its application for vehicle localization represent a novel approach to overcome limitations of existing technologies like GNSS sensors, cameras, and Lidar systems. The primary audience from this perspective includes geospatial technology developers, infrastructure planners, and researchers in this field.

Analyst Summary

GPR, a provider of Ground Positioning Radar, has announced securing an undisclosed amount of Series A funding from Rhapsody Venture Partners. This development comes on the back of growing customer demand for GPR's technology, which uniquely tackles the challenge of precise vehicle localization in environments with limited visibility and unstructured conditions - something current GNSS, camera, and Lidar systems struggle with. By scanning and creating a 3-D map of the unique subsurface signatures below roads, GPR's technology enables accurate localization regardless of aboveground visibility. This investment marks a significant milestone for GPR and holds promising implications for the advancement of autonomous vehicles and geospatial technologies.

Over the past 25 years, the progress in autonomous vehicles and their supporting technologies has been significant, though precise localization in diverse conditions has remained a challenge. GPR's solution represents a novel approach to this longstanding issue and aligns with the broader industry trend of using advanced technologies to improve vehicle localization accuracy.

1.Specific Details/Aspects of the Topic One investigative question that analysts might ask concerns the specifics of GPR's technology: How does the Ground Positioning Radar technology work, and how does it ensure precise localization even in limited visibility conditions? Understanding the technology's working mechanism can give a clearer view of its potential applications and limitations.

2.Implications for the Broader Industry Analysts might also delve into the implications of GPR's technology for the broader autonomous vehicle industry. Will GPR's technology become the new standard for autonomous vehicle localization, and how might it change the current technology landscape? This question can help assess the broader impact and significance of GPR's approach.

3.Potential Future Developments What are the potential future developments related to GPR's technology? Are there possible advancements or refinements that could further enhance its performance? Understanding possible future developments can provide insights into the technology's growth trajectory and its potential to shape the industry.

4.Challenges or Obstacles What challenges might GPR face in implementing its technology on a broad scale, and how might it address these obstacles? Understanding the practical challenges related to technology implementation, such as cost, scalability, or compatibility issues, can shed light on its feasibility and long-term sustainability.

5.Responses from Key Industry Stakeholders Finally, what have been the responses or reactions from key industry stakeholders to GPR's Series A funding and its technology?