Doosan Bobcat Makes Strategic Equity Investment into Startup Radar Technologies Company
Doosan Bobcat North America announced recently a strategic equity investment with Ainstein AI Inc., a startup radar technologies company located in Lawrence, Kan., to continue the development of next-generation radar sensor systems for Bobcat equipment solutions. Doosan Bobcat first announced a strategic partnership with Ainstein in June 2020 to identify forward-looking solutions to help equipment owners and operators maximize productivity, efficiency and safety through innovation and technology. This latest strategic investment is designed to generate several shared-value benefits between the companies and customers.
"Radar sensor technology is a key component of our innovation accelerated strategy and ensures Bobcat provides the most productive machinery on any work site," said Joel Honeyman, vice president of global innovation at Doosan Bobcat. "Radar will enhance equipment performance and provide our customers with optimal productivity and the ultimate operator experience through sensor technology. Our investment with Ainstein allows us to work more closely to provide numerous solutions to our customers."
Doosan Bobcat North America and Ainstein will further collaborate to create next-generation radar sensor solutions to detect objects on job sites when using Bobcat equipment. The radar system developed by Ainstein collects object position data — like range, azimuth, elevation and doppler information — to provide real-time alerts to operators by incorporating a combination of mmWave radar, sensor fusion and artificial intelligence. This technology will enable obstacle avoidance solutions and future technologies that support autonomous operations.
"The investment from Doosan Bobcat is a validation of our technology and leadership position in next-generation sensor development," said Andrew Boushie, vice president of strategy and partnerships at Ainstein. "We are so thrilled to work with a strong, internationally recognized brand like Bobcat. Together, we can advance technology that will benefit our companies and industry."
Doosan Bobcat's investment in Ainstein AI comes at the completion of a Series A funding round. The investment agreement was finalized in December 2020.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.