We are delighted to explore the application of our Supercorrelation technology into the automotive sector with General Motors, a leader in advanced driver assistance systems. This is a major milestone in our journey on the back of strategic investment from GM Ventures.
The collaboration with GM will focus on possible applications of Supercorrelation technology in future vehicles, including potential enhancements and expansion of its Super Cruise advanced hands-free driving assistance technology and its upcoming Ultra Cruise advanced driver assistance system in the coming years.
“FocalPoint’s Supercorrelation technology can make navigation and positioning more precise, especially in dense urban environments, which we believe can have significant benefits for the ongoing growth and capability of ADAS and AV systems” said Scott Pomerantz, FocalPoint, CEO.
We’re constantly researching technologies to support and enhance the growth and performance of our vehicles, both within our internal research and development operations and through collaborations with innovators beyond our company.
Kent Helfrich, President, GM Ventures.
We were founded to address the critical issue of GPS inaccuracies of current receivers and bring navigation positioning better in line with the demands of businesses and individuals in the 21st century and through the technology we aim to redefine state-of-the-art next generation GPS Technologies for the safety and reliability of lane-level positioning.
This latest investment follows our Series C funding round of £23m, led by Molten Ventures and Gresham House Ventures. We have also secured funding from the European Space Agency’s NAVISP programme to develop a live demonstration and rapid prototyping system to accelerate our activities in the automotive and mobile sector.
Having already licensed some of its technologies to u-blox, the leading European manufacturer of wireless communication and positioning technologies, for use in their GNSS receivers, this collaboration signifies our first steps into the booming automotive market.
Currently, over a trillion dollars of the US economy and over 800 billion euros of the European economy depend on positioning and timing systems (RTI source)