Capitalizing on Momentous Growth, Terranet Enters Various Strategic Partnerships as Ultra-Fast VoxelFlow™ Tech Rapidly Develops
Segment Leaders Prophesee and Sensor Cortek Offer Complimentary Solutions Across Segments, Expanding Terranet’s Brand and Speeding up VoxelFlow™ Development
Lund, Sweden - April/March XX, 2021 - Terranet AB (Terranet/the Company), (Nasdaq: TERRNT-B.ST), developers of advanced driver-assistance software (ADAS) that specifically addresses safety and comfort through precise, fast, and intelligent sensor technology, today announced strategic partnerships with and , two dynamic segment leaders. These strategic partnerships present opportunities for all parties to advance their respective technologies, as all operate in complementary industries to Terranet’s lightning quick, 3D perception technology VoxelFlow™.
Riding momentum from a recent with Mercedes-Benz and joint collaboration with SXSW winner and Audi-backed startup , this latest round of collaborative efforts further showcases the versatility of VoxelFlow’s™ impressive ADAS technology. These partnerships not only enable Terranet to advance further towards its goal of eliminating vehicle accidents caused by human error, it could potentially expand VoxelFlow’s™ addressable market beyond ADAS.
“VoxelFlow’s™ ability to scan an area around the vehicle before delivering data points in mere milliseconds makes it a solution that spans industries, from autonomous vehicles to robotics, and much more,” said Pär-Olof Johannesson, CEO of Terranet. “Already well positioned to bring VoxelFlow™ to market as an ADAS solution that keeps drivers and pedestrians safe, these partnerships will allow Terranet to diversify our technical offering to ensure we’re capitalizing off all its breakthrough solutions.”
A solid-state system that combines event-based cameras and continuous sensors, VoxelFlow’s™ partnership with all three companies will serve to advance the product’s development, expand its use cases and shorten the technology’s go-to-market time. Prophesee, Summer Robotics and Sensor Cortek are each unique offerings with different opportunities for collaboration through VoxelFlow™:
Prophesee - developers of the world's most advanced event-based vision systems, the two companies will work together to push their technologies forward and promote each other's offerings to future and existing partners. Sensor Cortek - leaders in intelligent perception and data processing technology, both will explore opportunities to work together and provide best-in-class sensor solutions to various industries.
Amidst a period of high growth, Terranet will continue to seek out and strategically partner with industry leaders across segments as more begin to realize the impactfulness of VoxelFlow’s™ dynamic solutions.
About Terranet
Terranet develops software for radio-based solutions and three-dimensional image analysis for advanced driver-assistance systems and autonomous vehicles (ADAS and AV). In-line with Scandinavia’s rich history of bringing innovative safety measures to the automobile industry, Terranet is pioneering breakthrough safety technology for the ADAS and AV industries at its headquarters in Lund, Sweden and its development sites in Kyiv, Ukraine and in Stuttgart, Germany. Terranet Holding AB (publ) is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST).
About Prophesee
Prophesee is the inventor of the world’s most advanced neuromorphic vision systems. The company developed a breakthrough Event-Based Vision approach to machine vision. This new vision category allows for significant reductions of power, latency and data processing requirements to reveal what was invisible to traditional frame-based sensors until now. Prophesee’s patented Metavision® sensors and algorithms mimic how the human eye and brain work to dramatically improve efficiency in areas such as autonomous vehicles, industrial automation, IoT, security and surveillance, and AR/VR. Prophesee is based in Paris, with local offices in Grenoble, Shanghai, Tokyo and Silicon Valley. The company is driven by a team of more than 100 visionary engineers, holds more than 50 international patents and is backed by leading international investors including Sony, iBionext, 360 Capital Partners, Intel Capital, Robert Bosch Venture Capital, Supernova Invest, and European Investment Bank.
About Sensor Cortek
Sensor Cortek develops state-of-the-art AI-based perception systems for all applications. Sensor Cortek creates high performance deep neural networks, and embeds them in specialized processing units for production deployment. The developmental activities include: research, acquisition and annotation of data, data simulation, deep network design, training testing and analysis, embedded systems and sensor fusion.
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