Autonomous vehicle tech startup Sense Photonics raises another $6M under new CEODate Published:
DURHAM – Investors continue to flock to Durham startup Sense Photonics, a developer of technology for use in autonomous vehicles and under the direction of new CEO Shauna McIntyre.
Sense has added another $6 million in funding to a round launched two years ago, according to an SEC filing.
The new cash – all in equity – raises to $32 million the round’s total.
So far, 33 investors have participated.
But Sense wants more: Its goal for the round is $41 million, the filing notes.
McIntyre signed the filing. A former Google executive, she was named CEO in April.
With intellectual property protected by some 200 patents, Sense Photonics is preparing to bring to market technology it believes will make not only autonomous vehicles but industrial robots safer to operate.
Utilizing radar known as LiDAR (which stands for light detection and ranging) and 3D sensor technology, Sense plans to bring to market products later this year. Goldoman Saches certainly sees Lidar as a big market with a potential value of $200 billion.
Here’s how Sense describes its technology:
“Based on a unique ‘flash’ architecture, Sense Photonics’ systems have no moving parts and do not scan at all. This approach 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 enables small, customizable form factors critical for seamless integration into vehicles.”
The firm launched in 2016.
Original Article Source: WRAL TechWire