Scantinel, a LiDAR startup, which develops and produces FMCW LiDAR (Light Detection and Ranging) sensors for the next-generation LiDAR systems for autonomous vehicles (AV) has received growth financing through Scania Growth Capital.
LiDAR is considered the key technology for safety of autonomous vehicles. Frequency Modulated Continuous Wave (FMCW) LiDAR – a bulky abbreviation for a disruptive technology – will help autonomous driving to achieve a breakthrough and, according to experts, will displace the currently used Time of Light (TOF) LiDAR systems from the market.
“The LiDAR market is further consolidating and it’s becoming clearer which technologies and startups will eventually make it to mass production. Here at ZEISS, we are proud that Scantinel is among the ones that succeed in attracting new investors, “explains Gerrit Schulte, Head of ZEISS Ventures.
Scantinel offers unique FMCW LiDAR technology that delivers a new dimension of data to make cars safer and, eventually, autonomous. This new technology makes it possible to measure distances to objects in the plus-300-meter range with a high level of integration, solid state scanning and competitive pricing, which is key for autonomous vehicles.
“We see a great benefit from having Scania’s Venture Capital fund as an investor and are pleased to welcome Scania Growth Capital on board to support us as we continue to progress,” says Scantinel CTO & Co-founder Andy Zott.
Thanks to this Series-A funding, Scantinel will be able to further develop and commercialize its FMCW LiDAR technology. “The investment from Scania Growth Capital enables us to commercially implement this technology in close cooperation with our customers and technology partners,” says Scantinel Commercial Managing Director Dr. Michael Richter.
“The future safety of autonomous vehicles is based on FMCW LiDAR sensor technology. We see Scantinel Photonics as the technology leader in its field and we are excited to be part of the growth journey,” says Christian Zeuchner, Partner at the management company Scania Growth Capital.