LeddarTech announced the completion of $101 million in Series C financing. Osram led the round, with participation from Delphi Automotive, Fonds de Solidarite FTQ, Integrated Device Technology, and Magneti Marelli.
LeddarTech, Inc., develops and markets sensing solutions based on light emitting diode (LED) lighting systems. The company provides LED detection and ranging solutions for object detection and distance measurement applications. Its products are used to improve traffic flow by municipalities and transportation departments, as well as for parking assistance, automatic parking, blind-spot detection, lane-change assistance, and pre-crash detection applications in the automotive industry.
In its announcement, the company said this round of funding will allow LeddarTech to enhance its development efforts, expand its research and development team, and accelerate ongoing LIDAR development programs with select Tier-1 automotive customers for rapid market deployment.