SteerLight announces the closing of a €2 million financing round with a group of investors led by Stellantis Ventures, as well as Quantonation and LIFTT, venture capital focused on deep-tech.
This funding is in addition to a €1.2 million loan from three banks, including Bpifrance.
This injection of capital will enable SteerLight to pursue the development of its LIDAR prototype based on an electronic chip. This technology, which exploits silicon photonics, promises to deliver substantial improvements in terms of performance, cost and compactness over existing LIDAR solutions.
François Simoens, PhD, founder and CEO of SteerLight, explains: 'This round of funding will now enable us to develop a functional demonstrator for testing in an industrial environment, and to accelerate the design of the first LIDAR product prototype. Subsequently, a further round of funding will be required to accelerate production of this product and develop the second generation, which will serve customers in both industry and the automotive sector, aiming for mass production at a competitive price'.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).