31 May 2021
Funding for new FMCW lidar developer agreed with participation of Scania Growth Capital.Scantinel Photonics has received further growth financing through Scania Growth Capital. The Zeiss Ventures portfolio company develops Frequency Modulated Continuous Wave (FMCW) LiDAR sensors for next-generation LiDAR systems for applications in autonomous vehicles. The amount and terms of the funding were not disclosed.
“The LiDAR market is further consolidating and it’s becoming clearer which technologies and startups will eventually make it to mass production. We are proud that Scantinel is among the ones that succeed in attracting new investors,” commented Gerrit Schulte, Head of Zeiss Ventures.
Advances in new sensor technologies, such as LiDAR, are expected to make cars safer and, eventually, autonomous. Scantinel offers FMCW LiDAR technology that delivers a new dimension of data to future vehicles, says Zeiss.
Scania Venture Capital fund
Its LiDAR technology measures distances to objects in the plus-300-meter range with a high level of integration, solid state scanning and competitive pricing, which is key for deployment in autonomous vehicle detection and safety systems.
“We see a great benefit from having Scania’s Venture Capital fund as an investor and are pleased to welcome Scania Growth Capital on board to support us as we continue to progress,” said Scantinel CTO & Co-founder, Andy Zott.
The series-A funding allows Scantinel Photonics to further develop and commercialize its leading FMCW LiDAR technology. “The investment from Scania Growth Capital enables us to commercially implement this technology in close cooperation with our customers and technology partners,” said Scantinel Commercial Managing Director, Michael Richter.
“The future safety of autonomous vehicles is based on FMCW LiDAR sensor technology. We see Scantinel Photonics as the technology leader in its field and we are excited to be part of the growth journey,” said Christian Zeuchner, Partner at the management company Scania Growth Capital.