Luminate Announces Fourth-Round Winners
Via Optics & Photonics News
October 1, 2021
In an online event on 30 September, Luminate NY, the business accelerator centered in Rochester, NY, USA, announced the winners of its fourth graduating class of emerging companies in optics, photonics and imaging (OPI). The five companies tapped by the program will receive a total of more than US$2 million in follow-on funding to further support their business growth.
The event—sponsored by Optica (formerly OSA), the publisher of OPN—showcased ten start-up firms that had participated in the 2021 Luminate competition, which its managing director, Optica Fellow Sujatha Ramanujan, called “the largest OPI accelerator on Earth.” The 2021 competition marked the fourth annual round for the Luminate project, which named its first winners in mid-2018.
PreAct Technologies snags top honors
Taking the top prize of US$1 million was the Portland, OR-based PreAct Technologies, which is developing an integrated sensing-and-processing platform, TrueSense, for the automotive market. The platform, according to the company, puts together image sensing and edge processing to provide an extremely rapid response before an automobile collision.
This, the company says, lets cars tune the deployment of safety systems, suspension and seats before a class to “vastly reduce injuries and deaths.” The firm adds that the system “will also quickly replace all short-range sensors like radar, ultrasound, and cameras—a $30 billion/year market—used for ADAS, self-driving, and convenience features.”