TerraNet is a Swedish startup that develops perception technology dubbed “BlincVision,” an an anti-collision system that scans a range of up to 30 meters to detect road objects. The system uses laser scanning, event cameras, and advanced vision software, including 4D vision technology. The company claims it can react in faster than 10 milliseconds when an object is detected on the road. It pitches the product toward advanced driver assistance systems (ADAS) and autonomous vehicle development.
Terranet intended to perform demonstrations of BlincVision in a laboratory environment during Q1 2024 and on vehicles in a test environment during Q2 2024.
T he company has offices in Sweden and Germany.
Key customers and partnerships
In November 2022, TerraNet entered a manufacturing partnership with Swedish technology company Prevas to manufacture the scanner module prototype that is required for the BlincVision system.
Funding and financials
TerraNet has been listed on Nasdaq First North Premier Growth Market since 2017. During the year ended December 2023, the company generated revenue of SEK 834,000 (USD 77,400) via other operating revenue, but was yet to generate product revenue. The company reported an operating loss of SEK 35.9 million (USD 3.3 million) during the period.
In November 2023, Terranet and AstaZero, a company providing test environment for advanced safety systems, received a grant of SEK 190,000 (~USD 18,200) from the Swedish government’s innovation agency, Vinnova to develop new testing methods for advanced driver assistance systems (ADAS). In December 2023, TerraNet was awarded a grant of SEK 614,000 (USD 58,850) by the Swedish Transport Administration's Skyltfonden. The awarded grant was set to fund a joint project with the Research Institutes of Sweden’s (RISE’s) testbed, AstaZero, running throughout 2024. This project was planned to enhance traffic safety for road users by evolving new testing methods and technologies for ADAS.
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