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© ljupco smokovski dreamstime.com Business | June 14, 2019

Sense Photonics completes Series A for autonomous vehicles and industrial robotics

Sense Photonics has closed a USD 26 million Series A funding round co-led by Acadia Woods and Congruent Ventures.

The company, which builds LiDAR and 3D sensor solutions for autonomous vehicles including industrial equipment and other applications, said in a press release that the funds will be used 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. Also participating in the funding round were a number of other investors, including Prelude Ventures, Samsung Ventures, Shell Ventures, Hemi Ventures and IPD Capital. Sense Photonics has developed a fully solid-state LiDAR system with advanced 3D imaging technology designed to meet the cost, performance and safety requirements for automotive and industrial applications. Based on a unique ‘flash’ architecture, the systems have no moving parts and do not scan, which enables high resolution across wide horizontal and vertical fields-of-view without compromising frame rate. In addition, the company’s camera-inspired design is highly manufacturable and offers small, customizable form factors that provide for seamless integration into vehicles. Sense Photonics CEO Scott Burroughs said, “We are very appreciative of this strong vote of investor confidence in our team and our technology. The demand we’ve encountered—even while operating in stealth mode—has been extraordinary. We look forward to announcing our first products over the next few months and ramping up volume production.” According to a company press release, Samsung Ventures invested in Sense Photonics based upon its opinion that the company’s 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. Sense Photonics has offices in Research Triangle Park, North Carolina, Silicon Valley, California, and Edinburgh, UK.
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October 11 2019 3:09 pm V14.5.0-1