- Durham, North Carolina-based company Sense Photonics announced that it closed $26 million in Series A funding
Sense Photonics, a Durham, North Carolina-based company that is building the next generation of LiDAR and 3D sensor solutions for autonomous vehicles, industrial equipment, and other devices announced that it closed $26 million in Series A funding round. This round of funding was co-led by Acadia Woods and Congruent Ventures. And there was participation from Prelude Ventures, Samsung Ventures, Shell Ventures, Hemi Ventures, and IPD Capital.
“We are very appreciative of this strong vote of investor confidence in our team and our technology,” said Sense Photonics CEO Scott Burroughs. “The demand we’ve encountered – even while operating in stealth mode – has been extraordinary. We look forward to announcing our first products over the next few months and ramping up volume production.”
Sense’s fully solid-state LiDAR system is ushering in a new era of advanced 3D imaging technology designed from the ground up for meeting the cost, performance, and safety requirements for automotive and industrial applications.
“Congruent is excited to work with Sense Photonics and its outstanding leadership team to help bring innovation to the autonomous vehicle and robotics space,” added Congruent Ventures managing partner Joshua Posamentier. “The technology that the Sense Photonics team is working on is years ahead of the competition, and we think they are poised to disrupt multiple markets.”
Sense Photonics’ systems are based on a unique ‘flash’ architecture and do not have any moving partners and do not scan at all. This approach essentially enables high resolution across wide horizontal and vertical fields-of-view without compromising frame rates. Plus Sense’s camera-inspired design is highly manufacturable and enables small and customizable form factors critical for seamless integration into vehicles.
With this round of funding, Sense Photonics is going to continue the development and commercialization of its sensor technology and the transition to high volume manufacturing. As of now, the company is in early sales mode with select early-engagement partners in the automotive and industrial markets. And the company will announce the general availability of its first commercial product later this year.
Samsung Ventures had invested in Sense Photonics based on its opinion Sense Photonics’ proprietary laser and sensor technologies representing a significant innovation in fundamental LiDAR technology could have a major impact on automotive and industrial 3D sensing in the future. Sense Photonics’ core technology is protected by more than 200 patents.
Burroughs was previously the EVP of manufacturing and technology development of Semprius Corporation and VP of Engineering and Operations at Santur Corporation. And Sense Photonics co-founder and CCO Russell Kanjorski was previously the VP of Business Development of Semprius Corporation.
