Transportation Startup AEye Secures $16 Million

AEye announced it has raised $16 million in Series A financing. Five investors participated in the round, including Kleiner Perkins Caufield & Byers, Airbus Ventures, Intel Capital, and Tyche Partners.

AEye develops advanced vision hardware, software and algorithms that function as the eyes and visual cortexes of autonomous vehicles. Since demonstrating its solid state LiDAR scanner in 2013, AEye has pioneered breakthroughs in intelligent sensing. The company is based in Silicon Valley.

AEye revealed that it will use its Series A funding to commercialize its robotic vision system. The company is currently in early testing with large transportation and heavy industry manufacturers, with phased commercial rollouts planned throughout 2017 and 2018.