Quanergy Systems, a Sunnyvale, Calif.-based maker of LiDAR sensors and software used for capturing and processing real-time 3D mapping data, secured $30m in Series A funding.
The round was led by Rising Tide Fund, with participation from other investors such as Wicklow Capital, Motus Ventures and Wardenclyffe Partners.
The company, which has now raised a total of $34.5m, intends to use the funds to accelerate the development and commercialization of its 3D LiDAR (light detection and ranging) products.
Founded in 2012 by Dr. Louay Eldada, CEO and co-founder, Quanergy Systems provides LiDAR sensors and software used for real-time capture and processing of 3D mapping data. In transportation, the data will be utilized to improve the accuracy and reliability of on-board driver safety systems and enhance them with object recognition and scenario analysis capability, as well as enable autonomous driving in the future.
The company has established early partnerships with global automotive, mining and digital mapping companies, and will be expanding its market presence into logistics, robotics, aeronautics, security, and 3D-aware consumer electronics.