Lidwave, a developer of 4D-LiDAR-on-chip sensors, announced that it raiseda $10 million Seed funding round led by Jumpspeed Ventures and Next Gear Ventures with strategic investment from a leading Swedish truck manufacturer. Lidwave’s seed round also included participation from additional investors, including Sapir Venture Partners, OurCrowd, Teramips Technologies, Beyond-Electronics, Howard Morgan (MFCIF), and the Israel Innovation Authority (non-dilutive).
This funding emphasizes the significance of Lidwave’s technology and approach in advancing the future of machine vision. Lidwave will use this new funding to develop its optical chip further, launch the industry’s first software-definable 4D LiDAR sensor, and expand its market presence.
The industry consensus shows that LiDARs are essential for autonomous machines across various fields. However, its full potential remains untapped due to high costs, complexity, and reliability issues. And legacy LiDAR systems are complicated, comprising dozens of elements including arrays of lasers, detectors, and optical components, assembled through a complex and costly process.
This results in high-end LiDAR units often costing tens of thousands of dollars, limiting widespread adoption across industries ranging from automotive, transportation, traffic management, industrial automation, ports to railways. And Lidwave addresses these challenges head-on with its novel technology, marking a new era: LiDAR 2.0, an affordable System-on-Chip LiDAR designed for the mass market.
Lidwave’s proprietary Finite Coherent Ranging (FCRTM) technology integrates the critical components onto a single chip, simplifying production and drastically reducing costs. And by combining lasers, amplifiers, receivers, and optical routing onto one chip, Lidwave reduces production costs and also makes this powerful technology more accessible and reliable for a wide range of industries. Moreover, unlike conventional LiDARs, Lidwave’s coherent sensing method provides Doppler (velocity) data at the pixel level alongside depth information, enabling machines to perceive and understand their surroundings with unmatched clarity, leading to better-informed decisions.
The company is also collaborating with leading OEMs, Tier-1 suppliers, and major players in industrial automation and smart infrastructure to bring a new era of autonomy to the mass market. And Lidwave seeks new partnerships to scale production and extend its technology to new fields, ultimately saving lives, enhancing safety, and boosting automation worldwide.
KEY QUOTES:
“This investment marks a significant milestone for Lidwave, propelling us closer to our goal of revolutionizing machine vision. Our 4D LiDAR chip not only sets a new standard for sensor performance but also makes advanced perception technology accessible to the mass market. We are thrilled to have the support of visionary investors who share our mission to enhance safety and productivity across various industries.”
-Yehuda Vidal, Lidwave’s CEO and Co-founder
“Over the last decade, we have witnessed significant progress in sensor technology. At the same time, we’ve encountered tremendous challenges in establishing sensor configurations that meet the right cost, quality, and reliability. We believe that Lidwave’s on-chip novel technology presents significant breakthroughs and provides the maturing market with the solution it has been waiting for.”
-Dr. Tal Cohen, Founding Partner at Next Gear Ventures
“We recognized the potential of LiDAR technology many years ago, but only now, with Lidwave, there is a clear pathway to scalability and wide adoption. Lidwave’s revolutionary 4D chip overcomes the barriers of legacy LiDARs, reducing the complexities and costs associated with their deployment. We pride ourselves on investing in cutting-edge technologies that are positioned to fundamentally transform industries, and with this in mind, we look forward to the impact Lidwave will make.”
-Ben Wiener, Founding Partner at Jumpspeed Ventures
