LeddarTech, a Canadian ADAS and AD sensing technology group, has announced an investment of $140 million, which comprises $116 million in Series D funding plus debt facility of $24 million. The financing round was led by FS Investors.
The investment will help Quebec-based Leddartech accelerate the development and commercialisation of its sensor solutions.
In addition, it will use the funds to augment engineering resources to meet the demands from global OEM and Tier 1-2 automotive customers for sensor fusion and perception sensing solutions.
The Canadian company’s sensor fusion and perception platform generates a 3D environmental model with multi-sensor configurations to support Level 2+ to Level 5 full autonomy.
Charles Boulanger, CEO of LeddarTech, says: “The success of this round is a testament to the growth and industry recognition LeddarTech has achieved. I am delighted to welcome FS Investors as our most recent investors, who bring vast experience and expertise in the deep tech sector,” .
He adds: I was impressed by the quality and thoroughness of their due diligence and their exceptional understanding of the ADAS and AD market, which confirms the value of our unique software solution. Our team and I look forward to working with FS Investors, our other new investors and our existing partners to enable our customers to significantly deploy our reliable and cost-effective ADAS and AD solutions across their brands and markets.”
Nick Stone, founder and partner of FS Investors, states: “An extensive due diligence process coupled with strong customer validation confirmed that LeddarTech’s unique solution is the best positioned in the market to unlock mass adoption of ADAS and AD by breaking typical software dependency on hardware in sensing,” according to Mr. Stone, concluding that: “The LeddarTech solution, called LeddarVision™, provides customers with the flexibility to quickly scale across vehicle models and deliver faster to market with greater performance at a lower cost.”
Founded in 2007, LeddarTech has become a comprehensive end-to-end environmental sensing company that enables customers to solve critical sensing and perception challenges across the entire value chain of the automotive and mobility market segments.
Keyword: Canada’s LeddarTech Announces $140 Million in Series D Financing & Debt Facility