September 7, 2017 09:30 AM Eastern Time
Major endorsement by key strategic partners led by Osram and including Delphi, Magneti Marelli, IDT, as well as Fonds de solidarité FTQ
LeddarTech. Inc. today announced the completion of a combined investment of US$101 million (close to CA$130 million) led by Osram and including Delphi, Magneti Marelli and Integrated Device Technology, Inc. as strategic investors, as well as Fonds de solidarité FTQ. Representing the Company’s largest capital raise to date, this round of funding will allow LeddarTech to enhance its ASIC development efforts, expand its R&D team, and accelerate ongoing LiDAR development programs with select Tier-1 automotive customers for rapid market deployment.
"We are thrilled to welcome such an influential group of companies as strategic investors, with whom we share a common goal of making mobility safer and more efficient,” stated Charles Boulanger, LeddarTech’s CEO. “Their strong endorsement is a testament to the maturity of the Leddar technology and the credibility of our product roadmap to support the ongoing development of autonomous driving. This positions LeddarTech as the definitive reference in solid-state LiDAR and validates our Tier-1 partnership business model to rapidly deploy LiDARs on a commercial scale in automotive applications. We believe this announcement represents a major stepping stone towards achieving market-share leadership in the multibillion-dollar automotive LiDAR market by 2020,” added Mr. Boulanger
LeddarTech is a member of Groupement ADAS
Read more (in french) : https://leddartech.com/fr/investissements-de-130-m-pour-leddartech/
More about LeddarTech : https://leddartech.com/