By Akash Sriram
Feb 3 (Reuters) – Bitsensing has launched an advanced driver-assistance system kit for buses and trucks, the South Korean radar startup said on Tuesday, aiming to retrofit existing commercial vehicle fleets with safety tech to cut accident risks and operating costs.
The launch comes as insurers begin to incorporate safety technology into commercial vehicle premiums and fleet operators look to upgrade ageing vehicles largely left behind by automakers and major suppliers prioritizing factory-installed systems for new models.
The Qualcomm-backed company’s kit combines radar sensors and cameras to warn drivers, aimed at buses and heavy trucks that typically have large blind spots and longer braking distances.
“Most existing commercial vehicles don’t have any sensors at all,” Bitsensing CEO Jae-Eun Lee told Reuters, adding that operators are willing to retrofit systems that can reduce accident risk.
The company has begun rolling out the system in South Korea through a pilot with Koreawide Express Group, installing the kit on its intercity and city buses, with a contract covering more than 500 buses.
Lee said large automotive suppliers typically avoid the segment due to lower volumes and customization demands, giving smaller companies room to compete.
The company is also in talks with potential customers in the United States, India and Taiwan about deploying the ADAS kit, and is discussing with insurers how data from retrofitted fleets could be used to support lower premiums by demonstrating reductions in accidents, Lee said.
“We do not focus only on automobiles,” Lee said, adding that the company is in talks to apply its radar-based perception technology to delivery robots and autonomous ships.
Founded in 2018, Bitsensing has raised about $52 million to date, including from South Korean auto parts supplier HL Mando. The company plans to prepare for an initial public offering in 2027, Lee said, though it could consider additional fundraising if a strategic partner emerged.
(Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)
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