Connect with us

Hi, what are you looking for?

CleanTechnica
The Israel-based LiDAR-focused startup Innoviz Technologies and the Canada-based LiDAR startup LeddarTech both recently announced new funding rounds — rounds which have apparently seen the involvement of a number of top auto parts supply firms.

Autonomous Vehicles

LiDAR Startups Innoviz Technologies & LeddarTech Launch New Funding Rounds

The Israel-based LiDAR-focused startup Innoviz Technologies and the Canada-based LiDAR startup LeddarTech both recently announced new funding rounds — rounds which have apparently seen the involvement of a number of top auto parts supply firms.

The Israel-based LiDAR-focused startup Innoviz Technologies and the Canada-based LiDAR startup LeddarTech both recently announced new funding rounds — rounds which have apparently seen the involvement of a number of top auto parts supply firms.

To be more specific, the firms Delphi Automotive, Magna International, and Magneti Marelli are all known to have taken part. Innoviz Technologies’ $65 million funding round has been joined by Delphi and Magna, and LeddarTech’s $101 million funding round has been joined by Delphi and Magneti Marelli.

Those are pretty substantial figures as regards the funding rounds, though perhaps quite reasonable if LiDAR tech proves to be integrated into the self-driving vehicle tech solutions of even a few major auto manufacturers or fleet operators.

As a reminder, or an overview for those unfamiliar with the term, “LiDAR” refers to tech that utilizes lasers/light pulses to create spatial maps that can be used for various purposes, including self-driving vehicle tech.

Reuters provides more: “Innoviz’s Series B funding round comes as the firm prepares for the 2019 debut of its automotive grade solid-state Lidar device, InnovizOne, for full and partial self-driving systems. Delphi and Magna will offer Innoviz’s technology to the automakers it supplies, Oren Rosenzweig, co-founder and chief business officer of Innoviz, told Reuters. The company also plans to mass produce its Lidar platform for testing and development available in the first quarter of 2018.

“LeddarTech’s Series C funding round was led by German lighting company Osram and will be used to accelerate Lidar development with suppliers, the company said.”

On a very related note, Delphi announced pretty recently that it had acquired a minority stake in Innoviz — something no doubt related to the new funding round participation.

Also potentially interesting in the context of this news is the fact that Magna International CEO Don Walker recently stated that he considered the hype around self-driving cars to mostly be PR at this point, and that the transition to genuinely self-driving vehicles will be slower than most automakers and prominent thinkers in the field are hyping. We’ll see, but it’s interesting to see Magna investing in LiDAR startups nonetheless.

Images by Innoviz

 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 

Advertisement
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

Comments

You May Also Like

Clean Transport

The electric vehicle startup REE Automotive is staking out new territory in the US, and Texas --yes, Texas -- is a perfect place to...

Cars

Magna International has unveiled two new electric car platforms, one for plug-in hybrids and one for battery electric cars.

Cars

Build it yourself or buy it from a supplier? That's the dilemma facing car makers as the EV revolution moves forward.

Electric Cars

News reports from Germany claim Ford will invest $2 billion to upgrade its factory in Cologne and will produce an electric car bases on...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.