LiDAR technology firm Blickfeld announces extension of Series A funding to $31m
Blickfeld, the Munich-based start-up developing breakthrough high performance and mass-producible LiDAR (Light Detection and Ranging) sensing technology, announces the extension of the company’s Series A funding to $31m.
New Future Capital (NFC), a private equity firm that provides growth capital primarily in Asia, North America, and Europe, was won as a new investor. Furthermore, all existing investors participated in the round including Bayern Kapital, Continental, Fluxunit – ams OSRAM Ventures, High-Tech Gründerfonds, Tengelmann Ventures, and UVC Partners.
The extension of financing comes at a time of significant growth for Blickfeld´s business, as well as its expansion into new markets. The company plans further development of sensors and software which continue to revolutionise the reliable capturing and utilisation of 3D data.
Founded by Dr. Mathias Müller, Dr. sc. Florian Petit and Rolf Wojtech in 2017, Blickfeld develops and produces LiDAR (Light Detection and Ranging) sensors and perception software. The solutions provide high-resolution three-dimensional environmental information enabling countless groundbreaking applications, spanning from autonomous transportation and mobility, through to smart cities, industrial use, and security.
Since the last funding, Blickfeld has already taken significant steps forward in launching products to market, including the series production launch of its versatile 3D-LiDAR sensors, Cube 1 and Cube Range 1, for multiple industrial applications. Furthermore, the company executed multiple large-scale rollout projects, such as passenger flow detection at airports and volume measurement of bulk material in product warehouses.
In addition to the company’s current resellers in 13 countries, including Germany, Canada, China, and Japan, the new financing round will support the opening of offices in the US and Asia and therefore promote Blickfeld´s international foothold. The new offices will be dedicated to expanding Blickfeld´s network of integrators thus making products accessible in applications worldwide faster and in larger quantities, serving the growing demand in the US and Asia as key markets. Alongside growth into new markets, the number of employees will rise significantly with a focus on the sales team.
Dr. Mathias Müller, co-founder and CEO of Blickfeld, comments: “The additional funding in this round of investment signals the continued confidence our investors hold in our vision to capture and analyze the world with a comprehensive solution. We are proud to say that our solutions are now being utilized by businesses and organizations across the globe! Now we are accelerating on our journey of internationalization and strive to further diversify our unique product range through this funding. Our new investor NFC´s strong network in Asia and the US will be of great value for Blickfeld to gain a firm foothold in the US and Asia quickly and substantially.”