Blackmore Sensors and Analytics Raises $18 Million Series B
Blackmore Sensors and Analytics, Inc., a leading developer of frequency-modulated continuous wave lidar for the automotive industry, announced today that it has raised $18 million in a Series B funding round led by BMW i Ventures. Additional investment came from Toyota AI Ventures, Millennium Technology Value Partners and Next Frontier Capital.
Low-cost lidar sensors are required to enable self-driving vehicles. According to the company, Blackmore’s core technology brings the advanced tool sets of modern radar into the optical domain, enabling a new era of lidar system performance. Its technology can be used for a variety of mission-critical automotive, military, and industrial environments, where cost and performance specifications limit more traditional sensors.
Blackmore will use the investment to scale the production of its lidar sensor for advanced driver assistance systems and self-driving markets. Increased production capacity will allow the company to support the growing sector of autonomous driving teams demanding a superior lidar solution.