Sense Photonics Raises $26 Million in Series A Funding Round
June 12 2019 - 2:50PM
Dow Jones News
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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