# Smart Radar System

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/smart-radar-system

- Industry: Hardware
- Headquarters: Seongnam, South Korea
- Website: www.smartradarsystem.com
- Total disclosed funding: $4.1M
- Latest round: Series A (May 13, 2019)
- Investors on record: 5

## About

Smart Radar System Inc., based in South Korea, specializes in innovative radar technologies, offering advanced 4D imaging radar solutions that enhance safety and operational efficiency across multiple sectors, including autonomous vehicles and smart infrastructure.Founded in 2017 in Seongnam, South Korea, Smart Radar System Inc. develops sophisticated radar systems designed for various applications. The company has engaged in five deals, with the latest in August 2023, where it raised KRW 17.8 billion in a Pre-IPO round led by Daishin Securities and HL Mando Corp, bringing the total amount raised to KRW 11.2 billion and a current valuation of KRW 70 billion. The CEO, Paul Kim, has a background in radar technology and has been instrumental in guiding the firm through its growth phases.Smart Radar System Inc. specializes in advanced radar technologies, primarily focusing on sub-1° 4D imaging radar solutions. Their offerings include high-end imaging radar products for applications such as autonomous vehicles, healthcare, and smart city infrastructure. These systems provide real-time 3D data visualization, enhancing operational efficiency across various sectors. The company caters to a diverse clientele that includes automotive manufacturers, healthcare facilities, and urban planners, with significant markets in North America, Europe, and Asia. Additionally, their product lineup features developer kits and various radar modules tailored for industries including defense and industrial automation.Smart Radar System Inc. generates revenue through a blend of direct sales and partnerships in a B2B context, primarily selling flagship products like the RETINA-4FN and RETINA-4SN imaging radars to clients in the automotive and healthcare sectors. The revenue model is structured around per-unit sales for hardware, with potential subscription services for software and ongoing support. Clients typically engage under contractual agreements for acquisition, including maintenance and updates, ensuring a steady revenue stream. The company’s radar technology positions it within a competitive market, fostering long-term relationships with enterprise customers.Smart Radar System Inc. intends to leverage its recent funding to expand its product line and enter new markets. The company aims to introduce additional radar solutions aimed at enhancing smart city infrastructures and autonomous vehicle safety features, with plans for the roll-out of new products by mid-2024. The funds raised in August 2023 will be utilized to support these product developments and market expansion initiatives. Specific targeted markets for expansion include Southeast Asia and North America, with efforts to establish a stronger presence by the end of 2024.

## Funding rounds

- Series A, May 13, 2019, $4.1M — Kakao Ventures, Hemi Ventures, Hyundai Investment Partners, Murex Partners, Evergreen Investment Partners

## Investors

- Kakao Ventures (https://capitalatlas.ai/funds/kakao-ventures) — Series A
- Hemi Ventures (https://capitalatlas.ai/funds/hemi-ventures) — Series A
- Hyundai Investment Partners (https://capitalatlas.ai/funds/hyundai-investment-partners) — Series A
- Murex Partners (https://capitalatlas.ai/funds/murex-partners) — Series A
- Evergreen Investment Partners (https://capitalatlas.ai/funds/evergreen-investment-partners) — Series A