Lighting manufacturer Osram has acquired a 25.1 per cent share in LeddarTech, a Canadian company developing lidar for self-driving cars and driver assistance systems. The deal is valued in the mid double-digit million euros range.
Lidar, standing for light, detection and ranging, is one of numerous sensor technologies that are being tested for autonomous driving. LeddarTech makes solid-state lidar systems that use infrared light to create a 3D map of the surrounding environment. The company was established in 2007 and is based in Québec, Canada.
Osram and LeddarTech already work together and, according to Osram, LeddarTech’s optical sensing technology is complementary with Osram’s semiconductor products.
‘Osram is already the world’s leading provider of sensor lights for autonomous vehicles and is experiencing steadily rising demand in this field. We see the investment in LeddarTech as a logical step on the way to becoming the leading provider of solutions in this area,’ said Stefan Kampmann, chief technology officer at Osram Licht.
‘We see a great natural fit between our two companies and are pleased to welcome Osram as a strategic investor,’ said Charles Boulanger, LeddarTech’s CEO. ‘This investment from Osram is part of a larger financing round currently underway by LeddarTech and expected to be finalised shortly. Further details will be provided after the closing of the round.’
Driver assistance is set to represent a €9bn market for photonics by 2020, according to a report by Tematys. Earlier in the year, US solid-state lidar start-up TetraVue raised $10 million in investment based on the autonomous vehicle market.