Doosan Bobcat North America, West Fargo, North Dakota, completed a strategic equity investment with radar technologies startup company Ainstein AI Inc., Lawrence, Kansas, to continue the development of next-generation radar sensor systems for Bobcat equipment solutions.
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.
“Radar sensor technology is a key component of our innovation accelerated strategy and ensures Bobcat provides the most productive machinery on any work site,” says 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 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,” says 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.”
