Portland, Oregon - PreAct Technologies, a leading software-definable flash LiDAR sensor manufacturer, has raised $20 million in a Series B funding round led by I Squared Capital, State Farm Ventures, and Luminate Capital. The company's founder, Paul Drysch, announced the successful funding round, which will support the development of PreAct's innovative technology, expansion of the product range, and market penetration.

PreAct Technologies delivers the world's first software-definable flash LiDAR sensors that are affordable, compact, and designed to function in various use cases. PreAct's sensors offer solutions in industries including automotive, trucking, robotics, healthcare, agriculture, smart cities, and industrial applications. The company currently develops and sells complete systems packaged as products addressing distinct markets. Each product consists of a TrueSense flash LiDAR (3D camera), edge processing, and communications to an external platform such as a laptop or the company's cloud service.

"We are delighted to have secured this investment from I Squared Capital, State Farm Ventures, and Luminate Capital. Their support will enable us to continue our mission to deliver affordable, high-quality LiDAR sensors that meet the needs of various industries," said Paul Drysch, Founder of PreAct Technologies. "Our technology is redefining the LiDAR market, and we are excited to bring our innovative products to a wider audience."

With the completion of the Series B funding round, PreAct Technologies will expand its product range and continue to invest in cutting-edge research and development. The funding will also be used to expand PreAct's market penetration in key industries, including automotive, trucking, robotics, healthcare, agriculture, smart cities, and industrial applications.