© blickfeld Electronics Production | August 30, 2018
German LiDAR start-up Blickfeld increases seed funding to $ 10 million
Munich-based LiDAR start-up Blickfeld say it has increased its seed funding to USD 10 million. All existing investors Fluxunit – OSRAM Ventures, High-Tech Gründerfonds, Tengelmann Ventures, and Unternehmertum Venture Capital Partners participated in the round.
The company says that it will use its new financial resources for the first series production and to further strengthen the team. Blickfeld develops and produces LiDAR (Light Detection and Ranging) sensors for environmental detection. The solid-state sensor developed by Blickfeld provides high-resolution, three-dimensional environmental data and is used in autonomous driving, in robotics and for the Internet of Things. Blickfeld’s patented technology makes high-tech LiDAR devices suitable for mass production. The increase from USD 4.3 million to USD 10 million in the seed financing round completed just a few months ago will further accelerate the company’s growth. “We have made very good progress with our LiDAR technology in recent months. High international demand confirms the efficiency of the Blickfeld solution. The expansion in seed financing will enable us to bring our first series product to market even faster," says Blickfeld co-founder and CEO, Dr. Mathias Müller in a press release. Ulrich Eisele, Managing Director at Fluxunit – OSRAM Ventures, says: “Results from the first customer projects speak for themselves. That’s why we are expanding our activities at Blickfeld. We are convinced that Blickfeld’s LiDAR technology can be a key building block for the future market of autonomous driving.” Founded in 2017 by Dr. Mathias Müller, Dr. Florian Petit and Rolf Wojtech, the start-up has grown considerably in recent months. Today, the Blickfeld team already numbers more than 35 employees. The company plans on hiring additional engineers, automotive experts and computer scientists in the upcoming months, as well as expanding its business-development, marketing and sales teams.