Breakthrough Navigation Technology Revolutionizes Drone and AV Markets
A Quebec-based company pioneers affordable, highly accurate navigation technology, revolutionizing the drone and autonomous vehicle industries
Montreal, QC / June 2024 / OSCP / Jane Doe — The demand for commercial drones is skyrocketing, with the market projected to grow from $19.9 billion in 2022 to $57 billion by 2030. Similarly, the Autonomous Vehicle (AV) market is expected to exceed $13 trillion by 2030. A significant challenge in these industries is the need for more accurate and cost-effective navigational sensors.
Image Source | (©StockSnap | pixabay)
Montreal-based One Silicon Chips Photonics (OSCP) has developed an inertial optical system that offers aerospace-level accuracy at a fraction of the cost. These sensors are 10 times more accurate than commercial-grade MEMS IMUs and can navigate precisely even without GPS.
In partnership with French multinational Thales, OSCP's prototype has been successfully tested in autonomous rail systems. These sensors can increase rail capacity by up to 50% and reduce energy consumption by 15%.
OSCP's technology has broad applications, including agriculture, mining, mapping, trucking, and delivery. The company recently secured $1.2 million in seed funding from 7percent Ventures and 2050 Capital, in addition to $4.2 million in grants from various Canadian organizations, aimed at accelerating their growth and commercializing their sensors.
“This $5.4 million in total funding will allow us to expand our team and expedite commercialization,” said Kazem Zandi, OSCP’s founder & CEO.
Harry Morgan of 7percent Ventures highlighted the importance of this technology: “We believe that the technology Kazem and OSCP have developed will be vital in accelerating the adoption of autonomous systems.”
Cornel Chiriac of 2050 Capital added, “OSCP’s innovation paves the way for mass adoption of autonomous systems and unlocks new opportunities for both established enterprises and startups.”
