LeddarTech, a global leader in Level 1-5 ADAS and AD sensing technology, announces notable and significant growth in 2020.
Despite the pandemic, LeddarTech, a pioneer in automotive sensing technology, boosted growth in investment, units sold, ecosystem partnerships, strategic customer engagements, and acquisitions in 2020. In November of 2020, LeddarTech was recognized by Tracxn in a category of only six Canadian as a Unicorn, defined by Tracxn as one with a valuation exceeding the billion, and even the multi-billion-dollar mark in some cases, representing the elite of the Canada Tech start-up sector.
Major 2020 Achievements:
- Reached over $350 million of investments from industry leaders.
- Contracted six Tier-1 and OEM customers to develop LiDAR measurement software, sensor fusion, and perception technology to enable ADAS and autonomous driving applications with a lifetime value over US$1.5 billion, supporting a growing opportunity funnel well over US$4.0 billion.
- Signed strategic partnership agreements with three global automotive Tier-1/2 customers for LiDAR platform development.
- Delivered over 9,000 low-cost solid-state LiDAR sensors to customers, a double-digit increase over 2019.
- Announced volume production of the award-winning Leddar™ Pixell with manufacturing partner Faurecia-Clarion Malaysia.
- Announced the addition of four major global technology companies as collaborative partners for joint delivery of LiDAR solutions to the market within the Leddar™ Ecosystem, including STMicroelectronics, Flex, dSPACE, and Ningbo Sunny Optical. LeddarTech expects to report further additions to the Leddar Ecosystem H1 of 2021.
- Expanded collaboration with Renesas to accelerate autonomous driving and ADAS development. This platform combines LeddarTech’s industry raw data sensor fusion stack and LiDAR technology with Renesas’ newly launched R-Car V3U, a best-in-class ASIL D system-on-chip (SoC) for ADAS and AD systems.
- Accelerated automotive sensing solutions through two acquisitions:
- Phantom Intelligence: This acquisition advanced LeddarTech’s strategy to aggregate and consolidate automotive sensing technologies, enabling the company to offer comprehensive solutions to our customers at lower cost.
- VayaVision: This acquisition added a vital building block by combining sensor fusion and perception technology with LeddarTech’s proven LeddarEngine™ platform. The LeddarEngine platform built on an open software architecture combined with LeddarVision™ enables LeddarTech to address customers’ need for sensing solutions that are hardware agnostic, scalable, and adaptable to any vehicle and sensor configuration.
The acquisitions of VayaVision and Phantom Intelligence, combined with over a decade of expertise in groundbreaking L1-5 ADAS and AD sensing technologies, demonstrate LeddarTech’s commitment to continuous innovation and service to our Tier 1-2, OEM, and autonomous mobility customers.
LeddarTech also expanded operations in Israel and augmented the existing engineering team with world-class AI and machine learning engineers.
“2020 was the most challenging year in recent history, but meeting challenges is in LeddarTech’s DNA,” stated Mr. Charles Boulanger, CEO of LeddarTech. “We are very proud of the advances we have made as an organization and the faith that our customers and strategic partners have placed in us,” concluded Mr. Boulanger.
“Our partners and customers recognize that they can rely upon LeddarTech’s ingrained expertise in sensing solutions that have been achieved through over 10 years of pioneering experience,” said Mr. Frantz Saintellemy, President and COO.