Lumotive adds new investments from USAA and uniquest to a strategic funding round led by samsung ventures

With more than $56 million in total financing to date, optical semiconductor company gears up for mass deployment of LCM™ chips

Lumotive,  the developer of Light Control Metasurface (LCM™) beam steering chips enabling the next generation of 3D sensors, announced that it has secured additional funding from new investors USAA and Uniquest in a $13M round of strategic funding led by Samsung Ventures, bringing the total amount raised to date to more than $56 million. Lumotive will use the new funding to accelerate the development and customer delivery of optical semiconductor devices that enable the next generation of lidar sensors. More than two dozen world-class companies are currently engaged with Lumotive to utilize the high-performance, small form factor, and low-cost advantages of the company’s LCM chips to develop next-generation lidar systems for autonomy, automation, and augmented reality (AR) markets.

“Disruptive approaches to enabling next generation lidar capabilities are imperative for important applications such as automotive safety,” said Michael Smith, Assistant Vice President, Corporate development at USAA. “Lumotive’s all-silicon LCM solutions make lidar affordable and deployable for a wide range of uses, and we’re excited to help accelerate their product development and deployment efforts through this investment.”

“We believe Lumotive’s innovative optical semiconductor chips will disrupt the consumer and industrial segments of the 3D sensor market,” said Andrew Kim, President and CEO of Uniquest. “We are very excited to form a long term partnership with Lumotive as an investor, and to represent the company and promote its products in South Korea.”

“Strategic investments made by prominent industry leaders in promising semiconductor startups like Lumotive is great news for the mobility sensor sector,” said Mark Fitzgerald, Director, Autonomous Vehicle Service, at Strategy Analytics. “This funding round acknowledges the foresight of Lumotive’s semiconductor-based product strategy and is has the potential to give the company a measurable time-to-market advantage.”

“We are very pleased to have USAA and Uniquest join our family of brand name investors as we ramp up to deliver disruptive semiconductors enabling Lidar 2.0 — a crucial 3D sensing technology for diverse, consumer, automotive, and industrial markets ,” said Dr. Sam Heidari, CEO of Lumotive.  “Our LCM chips are uniquely positioned to address the broad range of perception and safety requirements across those sectors.  This additional funding will accelerate the deployment of the current generation of LCM chips and the development of the next generation of our product.”