Neural Propulsion Systems Secures Series B Strategic Investment from Raytheon Technologies

Neural Propulsion Systems (NPS), a pioneer in hyper-resolution digital
imaging radar technology, announced a new Series B strategic investment by
RTX Ventures, the venture capital arm of Raytheon Technologies (NYSE: RTX).
The funding will help NPS develop next-generation radar technology able to
provide 10 times better resolution and 2.5 times greater range for mobility
and defense applications.

Radar is used across diverse industries, from automotive and mobility to
aerospace and defense, with a total available market of $28 billion
projected in 2025, according to Yole Group. Each of these use cases will
benefit from increased scanning speed, resolution, reliability and range.
Defense radars, in particular, require ever-greater resolution to deal with
new threats.

“We invest in companies working on breakthrough innovation that can
transform aerospace and defense,” said Dan Ateya, president and managing
director at RTX Ventures. “NPS’ advances in radar technology will open the
door for a great range of radar applications such as the defense of our
airspace.”

NPS has successfully demonstrated game-changing radar performance to
customers in the transportation and defense markets, showcasing order of
magnitude performance gains over existing radar technology.

“We’re powering a new class of radar with groundbreaking performance
advantages that are 10 times greater than possible with existing radar
technologies,” said Dr. Behrooz Rezvani, founder and CEO at NPS. “NPS is
poised to disrupt the $28 billion radar market. Leveraging our recent
breakthroughs in algorithms based on a new mathematical framework, our
AtomicSense radar platform dramatically transforms how sensor data is
processed and understood, enabling a revolution in radar performance.”

NPS has developed a new class of patented algorithms enabling enhanced order
of magnitude radar performance with game-changing applications in the
mobility and defense industries. The award-winning AtomicSense Platform sets
the standard for radar performance based on newly discovered mathematics,
dramatically changing how sensor data is processed and understood.

About AtomicSense Technology

NPS AtomicSense technology uses new patented radar algorithms to achieve
disruptively higher resolution, greater precision and superior reliability.
Advances in radar technology enable vehicle operators to sense the most
challenging and complex road environments, outperforming human vision. NPS
radar performance is based on a new mathematical framework, the atomic norm,
that transforms how sensor data is processed and understood. AtomicSense
technology achieves revolutionary, never-before-seen radar performance that
solves industry-level challenges and opens the door for the future of
advanced driver assistance systems (ADAS), autonomous driving, and
next-generation aerospace and defense systems.

About Neural Propulsion Systems (NPS)

Founded in 2018 by Silicon Valley luminaries, NPS develops digital imaging
radar technology. Based on a radar algorithm system running on graphical
processor units (GPUs), the NPS AtomicSense platform achieves radar
performance that reaches the information-theoretic limits of what is
mathematically possible, enabling groundbreaking applications in the
mobility and defense industries. Find NPS on the Web, Twitter and LinkedIn.