When We Talks
Technology

PreAct, which sells near-field sensors for automakers, reels in $14M – GeekWire

[ad_1]

(PreAct Photo)

PreAct, a Portland, Ore.-based startup that uses near-field sensors to help sense a vehicle’s surroundings and respond, raised $14 million to drive research and development.

The startup, which originally developed to protect military vehicles from missiles, spun off as a standalone company in 2018 to target the automotive market. The company says it is generating revenue and has “experienced significant growth over the past year.”

The new funding round will be used to go after industries including agriculture, healthcare and robotics, CEO Paul Drysch said in a statement. The company currently has a workforce of 30 people and has 20 openings.

The company was founded by Drysch, who led four other automation companies prior to PreAct. He is joined by COO Kurt Brendley, who previously worked as the head of business development at research and development firm Artis, and Chairman Keith Brendley, who is the president of Artis.

PreAct raised $13 million in November 2021. Total funding to date is $28 million. The Series B round was led by I Squared Capital, with participation from State Farm Ventures, Luminate and Traylor Capital, among others.



[ad_2]

Source link

Related posts

Most popular stories on GeekWire for the week of Aug. 21, 2022 – GeekWire

Effie Weber

Smartsheet’s chief people and culture officer departs – GeekWire

Effie Weber

Microsoft Teams CVP joins UiPath; Sage Bionetworks names president; and more – GeekWire

Effie Weber