Image: Velodyne Lidar

AI software company, Bluecity, is acquired by Velodyne Lidar

Velodyne Lidar acquired AI software company, Bluecity, for LiDAR-based traffic, infrastructure and smart cities solutions.

James Davis

The Montreal-based artificial intelligence (AI) software company Bluecity, whose lidar-based solutions address safety, traffic, and infrastructure concerns, has been acquired by Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW).

By providing AI-powered autonomous vision solutions, Velodyne has reaffirmed its commitment to facilitating client success through acquisition in an all-stock deal.

Bluecity's entry is anticipated to have no impact on operating costs or cash usage, though executive, software development and sales teams will join Velodyne.

"Our acquisition of Bluecity further affirms that a system solutions approach integrating software and hardware is a major competitive advantage for Velodyne across all our end markets." Tweeted Ted Tewksbury, CEO, Velodyne Lidar

For many years, Velodyne and Bluecity have partnered to deliver lidar-based technologies for applications in smart cities. The Intelligent Infrastructure Solution (IIS) from Velodyne combines Bluecity's AI technology with the company's award-winning lidar sensors.

IIS provides traffic monitoring and analytics to improve road safety and efficiency, and assists communities in developing more intelligent, environmentally friendly transportation systems.

The solution has been deployed across four continents with 74 installations worldwide.

The customer response to Velodyne’s lidar-based system solutions has been incredibly positive. Customers are using our lidar and AI-powered analytics to obtain business insights and improve safety, sustainability, efficiency and transportation equity in ways that were never possible with traditional cameras or radar alone. said Dr. Ted Tewksbury, CEO, Velodyne Lidar

Velodyne Increases Portfolio of Full-Stack Solutions

In order to develop a variety of new full-stack infrastructure solutions for applications like parking, retail, casinos, and stadiums, Velodyne will keep developing the capabilities of its Intelligent Infrastructure Solution, including monitoring traffic patterns of people and cars.

Yole Intelligence, a division of Yole Group, predicts that the lidar market for smart infrastructure would grow from $108 million in 2021 to $1.1 billion in 2027(1). 

Velodyne will combine its Vella lidar perception software with Bluecity's powerful AI and analytics tools, which is provided in a Software as a Service (SaaS) model, in order to service these expanding markets.

By facilitating the development of new Velodyne lidar-based software solutions for industrial, robotics, and intelligent infrastructure, clients will be able to launch autonomous vision systems for these areas more quickly.

(1) Source: LiDAR 2022 – Focus on Automotive and Industrial Report, Yole Intelligence, 2022

Find the press release on Business Wire.

Find the article here:

Velodyne Lidar Acquires AI Software Company Bluecity
Velodyne Lidar has acquired Bluecity, a Montreal-based artificial intelligence (AI) software company for lidar-based smart city solutions.
Corporate & FinanceSoftware