The funding round was supported by the Netherlands-based PhotonDelta and the start-up’s existing investors Scania Growth Capital and ZEISS Ventures
Scantinel Photonics secured €10m in an extended Series A funding round. (Credit: PhotonDelta)
German lidar solutions provider Scantinel Photonics said that it has raised €10m in an extended Series A funding round.
The funding round, supported by the Netherlands-based PhotonDelta, is expected to help the company to develop next generation lidar solutions for autonomous vehicles and industrial applications.
The lidar start-up’s existing investors Scania Growth Capital and ZEISS Ventures also participated in the funding round.
Scantinel Photonics aims to use the funding to launch its frequency modulated continuous wave (FMCW) lidar devices to customers.
Scantinel Photonics managing director and co-founder Andy Zott said: “We see a great value having PhotonDelta as an additional investor and we are looking forward to maximizing the collaborations and benefits from PhotonDelta’s leading integrated photonics ecosystem.”
According to Scantinel Photonics, the investment made by PhotonDelta is a new step in its efforts to develop a European photonics ecosystem.
In April 2022, PhotonDelta raised €1.1bn in public and private investment, with an aim to build 200 start-ups, ramp up production, develop new applications for photonic chips, and develop infrastructure and talent.
PhotonDelta CEO Ewit Roos said: “Photonic chips are a next generation chip technology which will bring new innovations like FMCW LiDAR on CHIP to life and we are excited to ride along this journey with Scantinel. We see the investment in Scantinel as a perfect fit to grow and strengthen our photonics ecosystem.”
Established in 2019, Scantinel Photonics developed FMCW Lidar to enable broad application across industry and mobility. The FMCW Lidar is claimed to offer a detection range of over 300m with superior resolution and solid-state scanning.