Echodyne gets $29M from NEA, Bill Gates and others to boost radar suited for drones and cars

Microsoft co-founders Bill Gates and Paul Allen are among the investors putting another $29 million into Echodyne, the Intellectual Ventures spin-out that’s developing low-cost, miniaturized radar systems for drones and self-driving cars.

Echodyne founder and CEO Eben Frankenberg said the Series B funding round was led by New Enterprise Associates, or NEA, a Silicon Valley venture capital firm.

Gates, Seattle’s Madrona Venture Group, the Kresge Foundation and Allen’s Vulcan Capital are among the investors following up on their participation in 2014’s $15 million Series A round, Frankenberg told GeekWire. He declined to say how the new investment affects the valuation of the company, based in Bellevue, Wash.

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