Sense Photonics Raises $26 Million in Series A Funding Round

Date : 06/12/2019 @ 7:50PM
Source : Dow Jones News

Sense Photonics Raises $26 Million in Series A Funding Round

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   By Stephen Nakrosis 
 

Sense Photonics, a startup building parts for autonomous vehicles, industrial equipment and other markets, said Wednesday it closed a Series A funding round that raised $26 million.

The funding round was co-led by Acadia Woods and Congruent Ventures, Sense said. Investors included Samsung Ventures, Shell Ventures and Prelude Ventures.

Sense Photonics is working on a next-generation Light Detection and Ranging, or LiDAR, system, as well as 3D sensors for a number of applications.

The Durham, N.C.-based company said "funding will be used for continued development and commercialization of its sensor technology and the transition to high-volume manufacturing."

The company is in talks with early-engagement partners in the automotive and industrial spheres, it said.

Sense Photonics said it expects to have its first commercial product later this year.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 12, 2019 14:35 ET (18:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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