Velodyne Lidar Acquires AI Software Company Bluecity
Acquisition Bolsters Velodyne’s Lidar Solutions for Intelligent Infrastructure
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Velodyne and Bluecity have been partnering for many years to deliver lidar-based solutions for smart city applications. Velodyne’s Intelligent Infrastructure Solution (IIS) combines the company’s award-winning lidar sensors and Bluecity’s AI software. IIS delivers traffic monitoring and analytics to improve road safety and efficiency, and helps cities plan for smarter, greener transportation systems. The solution is deployed across four continents with 74 installations, including systems rolled out domestically in
“We are excited to welcome Bluecity as full members of the Velodyne team. They are an exceptionally talented group of innovators with game-changing AI and analytics software that perfectly complements our lidar sensors and Vella software,” said Dr.
“Bluecity is a big believer in Velodyne’s vision of being the leading provider of AI-powered autonomous vision systems,” said Dr.
Velodyne Expands Full-Stack Solutions Portfolio
Velodyne will continue to expand its Intelligent Infrastructure Solution’s capabilities, including monitoring flows of people and vehicles to create a range of new full-stack infrastructure solutions for applications such as parking, retail, casinos and stadiums. According to Yole Intelligence, part of
Vella software translates lidar data into actionable information so that autonomous systems can observe and understand the environments they are operating in. Vella’s real-time data enables autonomous systems to make decisions and take action, such as a robot or vehicle moving safely, and provide analytics, for example a traffic solution helping communities understand root causes of near-miss collisions, red light running and other road user behavior.
1Source: LiDAR 2022 – Focus on Automotive and Industrial Report, Yole Intelligence, 2022
Forward Looking Statements
This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, and competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," “can,” "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include uncertainties regarding government regulation and adoption of lidar, the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; uncertainties related to Velodyne's current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. For more information about risks and uncertainties associated with Velodyne’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Velodyne’s