San Jose, Calif., United States:
Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) right now introduced the corporate has acquired Bluecity, a Montreal-based synthetic intelligence (AI) software program firm whose next-generation, lidar-based options remedy security, site visitors and infrastructure points. The all-stock acquisition reinforces Velodyne’s dedication to enabling buyer success by delivering industry-leading, AI-powered autonomous imaginative and prescient options. The addition of Bluecity is anticipated to be immaterial to working bills and money utilization. Bluecity’s government, software program improvement and gross sales groups will be part of Velodyne.
This press launch options multimedia. View the complete launch right here: https://www.businesswire.com/news/home/20221004005370/en/
Velodyne Lidar’s Intelligent Infrastructure Solution, powered by Bluecity, put in at an intersection in San Jose, CA. Image credit score: Velodyne Lidar
Velodyne and Bluecity have been partnering for a few years to ship lidar-based options for sensible metropolis functions. Velodyne’s Intelligent Infrastructure Solution (IIS) combines the corporate’s award-winning lidar sensors and Bluecity’s AI software program. IIS delivers site visitors monitoring and analytics to enhance street security and effectivity, and helps cities plan for smarter, greener transportation programs. The answer is deployed throughout 4 continents with 74 installations, together with programs rolled out domestically in California, Colorado, Florida, New Jersey, Maryland, Texas, Nevada and Michigan and internationally in Canada, China, UAE, India, Finland, Germany and Australia.
“We are excited to welcome Bluecity as full members of the Velodyne team. They are an exceptionally talented group of innovators with game-changing AI and analytics software that perfectly complements our lidar sensors and Vella software,” stated Dr. Ted Tewksbury, CEO, Velodyne Lidar. “The customer response to Velodyne’s lidar-based system solutions has been incredibly positive. Customers are using our lidar and AI-powered analytics to obtain business insights and improve safety, sustainability, efficiency and transportation equity in ways that were never possible with traditional cameras or radar alone. Our acquisition of Bluecity further affirms that a system solutions approach integrating software and hardware is a major competitive advantage for Velodyne across all our end markets.”
“Bluecity is a big believer in Velodyne’s vision of being the leading provider of AI-powered autonomous vision systems,” stated Dr. Asad Lesani, Co-Founder and CEO, Bluecity. “Our experience working with Velodyne’s world-class lidar sensors has shown the power their solutions can bring in making communities safer and more efficient. Our team is thrilled to now be part of Velodyne.”
Velodyne Expands Full-Stack Solutions Portfolio
Velodyne will proceed to develop its Intelligent Infrastructure Solution’s capabilities, together with monitoring flows of individuals and automobiles to create a spread of latest full-stack infrastructure options for functions akin to parking, retail, casinos and stadiums. According to Yole Intelligence, a part of Yole Group, the sensible infrastructure marketplace for lidar will develop from $108M in 2021 to $1.1B in 20271. To serve these rising markets, Velodyne will combine Bluecity’s strong AI and analytics software program, delivered in a Software as a Service (SaaS) mannequin, with Velodyne’s Vella lidar notion software program. This integration will facilitate the creation of latest Velodyne lidar-based software program options for industrial, robotics and clever infrastructure, enabling the acceleration of shoppers’ time to market with autonomous imaginative and prescient programs for these markets.
Vella software program interprets lidar information into actionable data in order that autonomous programs can observe and perceive the environments they’re working in. Vella’s real-time information permits autonomous programs to make selections and take motion, akin to a robotic or automobile transferring safely, and supply analytics, for instance a site visitors answer serving to communities perceive root causes of near-miss collisions, pink mild working and different street consumer conduct.
1Source: LiDAR 2022 – Focus on Automotive and Industrial Report, Yole Intelligence, 2022
About Velodyne Lidar
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a brand new period of autonomous know-how with the invention of real-time encompass view lidar sensors. Velodyne, the worldwide chief in lidar, is understood for its broad portfolio of breakthrough lidar applied sciences. Velodyne’s revolutionary sensor and software program options present flexibility, high quality and efficiency to satisfy the wants of a variety of industries, together with robotics, industrial, clever infrastructure, autonomous automobiles and superior driver help programs (ADAS). Through steady innovation, Velodyne strives to remodel lives and communities by advancing safer mobility for all.
Forward Looking Statements
This press launch accommodates “forward looking statements” inside the that means of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 together with, with out limitation, all statements aside from historic truth and embody, with out limitation, statements concerning Velodyne’s goal markets, new merchandise, improvement efforts, and competitors. When used on this press launch, the phrases “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “can,” “should,” “future,” “propose” and variations of those phrases or comparable expressions (or the destructive variations of such phrases or expressions) are supposed to determine forward-looking statements. These forward-looking statements will not be ensures of future efficiency, circumstances or outcomes and contain various identified and unknown dangers, uncertainties, assumptions and different vital elements, lots of that are exterior Velodyne’s management, that would trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements. Important elements, amongst others, that will have an effect on precise outcomes or outcomes embody uncertainties concerning authorities regulation and adoption of lidar, the unsure influence of the COVID-19 pandemic on Velodyne’s and its prospects’ companies; Velodyne’s capability to handle progress; Velodyne’s capability to execute its business plan; uncertainties associated to the flexibility of Velodyne’s prospects to commercialize their merchandise and the final word market acceptance of those merchandise; the speed and diploma of market acceptance of Velodyne’s merchandise; the success of different competing lidar and sensor-related services that exist or might turn into accessible; uncertainties associated to Velodyne’s present litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne’s mental property; and normal financial and market circumstances impacting demand for Velodyne’s services. For extra details about dangers and uncertainties related to Velodyne’s business, please check with the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Velodyne’s SEC filings, together with, however not restricted to, its annual report on Form 10-Ok and quarterly reviews on Form 10-Q. All forward-looking statements on this press launch are primarily based on data accessible to Velodyne as of the date hereof, Velodyne undertakes no obligation to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as required by legislation.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20221004005370/en/
