WEST FARGO, N.D., Jan. 14, 2021 /PRNewswire/ -- Doosan Bobcat North America announced today a strategic equity investment with Ainstein AI, Inc., a startup radar technologies company located in Lawrence, Kan., to continue the development of next-generation radar sensor systems for Bobcat® equipment solutions.
"Radar sensor technology is a key component of our innovation accelerated strategy and ensures Bobcat provides the most productive machinery on any work site," said Joel Honeyman, vice president of global innovation at Doosan Bobcat. "Radar will enhance equipment performance and provide our customers with optimal productivity and the ultimate operator experience through sensor technology. Our investment with Ainstein allows us to work more closely to provide numerous solutions to our customers."
Doosan Bobcat first announced a strategic partnership with Ainstein in June 2020 to identify forward-looking solutions to help equipment owners and operators maximize productivity, efficiency and safety through innovation and technology. This latest strategic investment is designed to generate several shared-value benefits between the companies and customers.
Doosan Bobcat North America and Ainstein will further collaborate to create next-generation radar sensor solutions to detect objects on job sites when using Bobcat equipment. The radar system developed by Ainstein collects object position data — like range, azimuth, elevation and doppler information — to provide real-time alerts to operators by incorporating a combination of mmWave radar, sensor fusion and artificial intelligence. This technology will enable obstacle avoidance solutions and future technologies that support autonomous operations.
"The investment from Doosan Bobcat is a validation of our technology and leadership position in next-generation sensor development," said Andrew Boushie, vice president of strategy and partnerships at Ainstein. "We are so thrilled to work with a strong, internationally recognized brand like Bobcat. Together, we can advance technology that will benefit our companies and industry."
Doosan Bobcat's investment in Ainstein AI comes at the completion of a Series A funding round. The investment agreement was finalized in December 2020.
About Doosan Bobcat North America
Doosan Bobcat North America, headquartered in West Fargo, North Dakota, is a leading global manufacturer of construction, agriculture, landscaping and grounds maintenance equipment, attachments and services. The company is committed to empowering people to accomplish more. Doosan Bobcat North America is home to world-renowned brands, including Bobcat® compact equipment, Doosan® portable power products, BOB-CAT® mowers, Ryan® and Steiner® grounds maintenance equipment and Geith® attachments. Doosan Bobcat North America is a tradename of Clark Equipment Company.
Founded in 2015, Ainstein enables safer driving, flying, working and living through radar-based technology. Leveraging our radar technology and expertise, we are continuously imagining, developing and perfecting products that haven't been built before. We make radar more affordable and easier to deploy, offering complete customized solutions for autonomous drones, advanced driver-assistance systems (ADAS), autonomous vehicles, and IoT Applications. We incorporate a combination of mmWave radar, sensor fusion and artificial intelligence (AI) technologies into all of our products. Headquartered in Lawrence, Kansas, Ainstein is in the business of improving safety and protecting valuable assets through innovation.