LeddarTech, a Quebec, Canada-based provider of Leddar® detection and ranging technology, completed a $7m equity financing.
The round was led by BDC Capital and GO Capital.
The company intends to use the funds to accelerate its sales and marketing efforts for its sensor modules and to support the ramp-up of its manufacturing and service operations.
Led by Charles Boulanger, CEO, LeddarTech is a supplier of advanced detection and ranging systems based on patented, sensing technology that performs time-of-flight measurement using pulses from infrared LEDs processed through algorithms, thus detecting a wide range of objects under various environmental conditions. The Leddar technology ranges from off-the-shelf sensor kits for makers to customized solutions for large volumes, which offer integration opportunities to brand owners, integrators and OEMs.
In the coming quarters, the company’s team will focus primarily on increasing brand visibility in important sensor markets and accelerating the trial and adoption of this technology by developing commercial relationships with strategic customers and partners around the world.