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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 firstname.lastname@example.org
(END) Dow Jones Newswires
June 12, 2019 14:35 ET (18:35 GMT)
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