Friday, May 27, 2022

Autonomous Tech Startup LeddarTech raises $140 million

LeddarTech has raised $140 million. FS Investors led the financing round with the participation of Investissement Québec, BDC Capital, Go Capital, certain funds managed by Fidelity Investments Canada ULC, Fonds de solidarité FTQ, Export Development Canada, ams Osram, Desjardins Capital, UI Investissement, Cowen Investment II LLC and other LeddarTech management.

LeddarTech is a developer of advanced driver assistance systems (ADAS) and autonomous driving sensing technology.

This investment will accelerate the development and commercialization of LeddarTech solutions. In addition, LeddarTech will use the funds to augment engineering resources to meet the demands from global OEM and Tier 1-2 automotive customers actively engaged with the company for sensor fusion and perception sensing solutions.

“Our decision to partner with LeddarTech began with our introduction to the corporate senior management team.

“Individually, the senior team possess decades of experience in the technology industry. In addition, many have worked with major global automotive and sensing technology companies.”

“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.

“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.”

Nick Stone, founder and partner of FS Investors

“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.

Charles Boulanger, CEO of LeddarTech

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