Sense Photonics, a company building the next generation of LiDAR and 3D sensor solutions for autonomous vehicles, industrial equipment and other applications, has announced a close of a $26 million Series A funding round.
According to the company, its core technology – protected by over 200 patents – enables a simple, high-performance, solid state solution with no moving parts that can meet the rigorous performance, reliability and cost requirements for automotive and industrial applications.
The round was co-led by Acadia Woods and Congruent Ventures, with participation from a number of other investors, including Prelude Ventures, Samsung Ventures and Shell Ventures.
Samsung Ventures invested in Sense Photonics based upon its opinion that Sense Photonics’ proprietary laser and sensor technologies represent a significant innovation in fundamental LiDAR technology that could have an important impact on automotive and industrial 3D sensing in the future.
The company will use its funding for continued development and commercialization of its sensor technology and the transition to high volume manufacturing. The company is currently in early sales with select early-engagement partners in both the automotive and industrial markets and will announce general availability of its first commercial product later this year.
Source: Press Release