(CercleFinance.com) – SteerLight announces the closing of a 2 million euro funding round with a group of investors led by Stellantis Ventures, as well as Quantonation and LIFTT, venture capital focused on deep-tech .
This financing is in addition to a loan of 1.2 million euros granted by three banks, including Bpifrance.
This capital injection will allow SteerLight to continue the development of its LIDAR prototype based on an electronic chip. This technology, which leverages silicon photonics, promises to provide substantial improvements in performance, cost and compactness compared to existing LIDAR solutions.
François Simoens, PhD, founder and CEO of SteerLight, explains: ‘This fundraising will now allow us to develop a functional demonstrator which will be tested in an industrial environment, and to accelerate the design of the first LIDAR product prototype. Subsequently, further fundraising will be necessary to accelerate the production of this product and develop the second generation, which will serve customers in both industry and the automotive sector, aiming for mass production at a competitive price. .
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