Teradar, an early leader in sensor technology, has achieved a difficult trifecta. Their strategy has paid off, as demonstrated by their recently announced $150 million Series B funding round. The funding will accelerate the advancement of a cutting-edge solid-state sensor. This new sensor will use the terahertz band of the electromagnetic spectrum. Teradar’s off-the-shelf approach to any surface detection positions their technology to be a potential game-changer for advanced driver assistance systems and self-driving vehicles.
Co-founders Matt Carey and Nick Saiz Teradar The from company of MIT’s The Engine incubator, it does not accept investment from the incubator. The firm is developing a sensor that can sense between microwaves and infrared, a spectrum called the terahertz band. After years of research and development, this invention represents a monumental advance in sensing technology. Making this possible are capabilities that have yet to be realized at this scale.
Carey has been working for the past few years on making the sensor in relative secrecy. He noted that securing attention from major automakers is challenging, stating, “It’s very difficult to get their attention, it’s very difficult to get their dollars, and it’s very difficult to get their test track time.” From an industry and organizational standpoint, Teradar has already cleared some major obstacles. So far, it’s begun to work with five major U.S. and European automakers to pilot and prove its technology.
For Teradar, its short-term objective is adding its sensors into cars. This will continue to enrich the data available to advanced driver assistance systems, and ultimately enable fully autonomous driving. The announcement is the first deployment for the company’s sensors in a vehicle modeled in 2028. With this latest move, it leaves no doubt of its standing commitment to revolutionizing the automotive technology.
Recent progress in the semiconductor industry has allowed Teradar to move quickly and make strides at record speed. Carey highlighted the importance of having a focused team of experts, including Saiz, whom he referred to as “the world’s best terahertz chip designer, bar none.” One of the reasons for that rapid growth is Teradar’s deep expertise, which has attracted dozens of big name investors. Other prominent supporters include Capricorn Investment Group, Lockheed Martin’s venture arm, mobility-minded Ibex Investors and VXI Capital.
Teradar’s recent funding success is a further testament to the growing demand for sensor technologies. These technologies set out to bridge the gap between conventional radar and lidar systems. Teradar’s sensor will have a price point that combines the best aspects of both worlds. This innovative method increases the accessibility of the sensor for more types of vehicles.
Carey articulated his vision for widespread adoption: “How do we get the sensor on every single vehicle? I drive a Ford Focus, and there’s zero chance you’re putting a $1,000 lidar.” Teradar is committed to developing technology that advances the state of the art. They hope to ensure economic viability for mass-market applications.
Like many startups, as Teradar moves further down its development journey, the company is looking to address challenges tied to scaling production. Effective manufacture of its sensors is now Teradar’s main focus, and it’s currently working with three Tier 1 suppliers to ramp production.