September 15, 2017 | Deals
GCA advises LeddarTech on its $101 million Series C Financing
GCA advised LeddarTech Inc., a leader in solid-state LiDAR for autonomous driving, on its $101 million Series C financing round led by Osram and including Delphi, Magneti Marelli and IDT as strategic investors, as well as Fonds de Solidarité FTQ. GCA acted as sole placement agent for this transaction, our 16th automotive and auto-tech related transaction in the last two years.
LeddarTech’s largest capital raise to date, this round of funding will allow the company to enhance its ASIC development efforts, expand its R&D team, and accelerate ongoing LiDAR development programs with select Tier-1 automotive customers for rapid market deployment.
LeddarTech is commercializing automotive-grade solid-state LiDARs that meet the industry’s stringent requirements in terms of cost, performance and reliability. The patented Leddar technology stems from more than a decade of R&D and has been optimized through multiple deployments in different applications. LeddarTech works in close collaboration with Tier-1 automotive suppliers to offer customized LiDAR solutions that meet the unique requirements of each current or prospective OEM, fleet and mobility service provider customer.
“We are thrilled to welcome such an influential group of companies as strategic investors, with whom we share a common goal of making mobility safer and more efficient,” stated Charles Boulanger, LeddarTech’s CEO. “Their strong endorsement is a testament to the maturity of the Leddar technology and the credibility of our product roadmap to support the ongoing development of autonomous driving. We believe this announcement represents a major stepping stone towards achieving market-share leadership in the multibillion-dollar automotive LiDAR market by 2020.”