Velodyne Lidar Acquires AI Software program Firm Bluecity


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Acquisition Bolsters Velodyne’s Lidar Options for Clever Infrastructure

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SAN JOSE, Calif. — Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) at the moment 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 growth and gross sales groups will be a part of Velodyne.

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“Our acquisition of Bluecity additional affirms {that a} system options method integrating software program and {hardware} is a serious aggressive benefit for Velodyne throughout all our finish markets.” Ted Tewksbury, CEO, Velodyne Lidar #lidar #ai $VLDR

Velodyne and Bluecity have been partnering for a few years to ship lidar-based options for sensible metropolis purposes. 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 techniques. The answer is deployed throughout 4 continents with 74 installations, together with techniques 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’re excited to welcome Bluecity as full members of the Velodyne staff. They’re an exceptionally proficient group of innovators with game-changing AI and analytics software program that completely enhances our lidar sensors and Vella software program,” mentioned Dr. Ted Tewksbury, CEO, Velodyne Lidar. “The client response to Velodyne’s lidar-based system options has been extremely optimistic. Prospects are utilizing our lidar and AI-powered analytics to acquire enterprise insights and enhance security, sustainability, effectivity and transportation fairness in ways in which have been by no means potential with conventional cameras or radar alone. Our acquisition of Bluecity additional affirms {that a} system options method integrating software program and {hardware} is a serious aggressive benefit for Velodyne throughout all our finish markets.”

“Bluecity is a giant believer in Velodyne’s imaginative and prescient of being the main supplier of AI-powered autonomous imaginative and prescient techniques,” mentioned Dr. Asad Lesani, Co-Founder and CEO, Bluecity. “Our expertise working with Velodyne’s world-class lidar sensors has proven the facility their options can herald making communities safer and extra environment friendly. Our staff is thrilled to now be a part of Velodyne.”

Velodyne Expands Full-Stack Options Portfolio

Velodyne will proceed to broaden its Clever Infrastructure Answer’s capabilities, together with monitoring flows of individuals and automobiles to create a variety of latest full-stack infrastructure options for purposes equivalent to parking, retail, casinos and stadiums. In accordance with 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 program 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 techniques for these markets.

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Vella software program interprets lidar information into actionable info in order that autonomous techniques can observe and perceive the environments they’re working in. Vella’s real-time information permits autonomous techniques to make choices and take motion, equivalent to a robotic or automobile shifting safely, and supply analytics, for instance a site visitors answer serving to communities perceive root causes of near-miss collisions, crimson gentle working and different street consumer conduct.

1Supply: LiDAR 2022 – Concentrate on Automotive and Industrial Report, Yole Intelligence, 2022

About Velodyne Lidar
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a brand new period of autonomous expertise 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 fulfill the wants of a variety of industries, together with robotics, industrial, clever infrastructure, autonomous automobiles and superior driver help techniques (ADAS). By means of steady innovation, Velodyne strives to remodel lives and communities by advancing safer mobility for all.

Ahead Wanting Statements
This press launch accommodates “ahead trying statements” throughout the that means of the “secure harbor” provisions of the USA Personal Securities Litigation Reform Act of 1995 together with, with out limitation, all statements apart from historic reality and embody, with out limitation, statements relating to Velodyne’s goal markets, new merchandise, growth efforts, and competitors. When used on this press launch, the phrases “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “could,” “will,” “can,” “ought to,” “future,” “suggest” and variations of those phrases or comparable expressions (or the detrimental variations of such phrases or expressions) are supposed to establish forward-looking statements. These forward-looking statements should not ensures of future efficiency, circumstances or outcomes and contain quite a few identified and unknown dangers, uncertainties, assumptions and different necessary components, a lot of that are outdoors Velodyne’s management, that might trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements. Essential components, amongst others, that will have an effect on precise outcomes or outcomes embody uncertainties relating to authorities regulation and adoption of lidar, the unsure influence of the COVID-19 pandemic on Velodyne’s and its clients’ companies; Velodyne’s means to handle development; Velodyne’s means to execute its marketing strategy; uncertainties associated to the flexibility of Velodyne’s clients 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 could turn out to be out there; uncertainties associated to Velodyne’s present litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne’s mental property; and basic financial and market circumstances impacting demand for Velodyne’s services. For extra details about dangers and uncertainties related to Velodyne’s enterprise, please check with the “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” and “Danger Components” sections of Velodyne’s SEC filings, together with, however not restricted to, its annual report on Type 10-Ok and quarterly experiences on Type 10-Q. All forward-looking statements on this press launch are based mostly on info out there 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 info, future occasions or in any other case, besides as required by regulation.

View supply model on businesswire.com: https://www.businesswire.com/news/home/20221004005370/en/

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Contacts

Investor Relations
Jim Fanucchi
Darrow Associates, Inc.
InvestorRelations@velodyne.com

Media
Jane Maynard
Velodyne Lidar
PR@velodyne.com

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