LiDAR start-up Blickfeld increases seed funding to $ 10 million
August 28, 2018
The Munich-based LiDAR start-up Blickfeld has increased its seed funding to $ 10 million. All existing investors Fluxunit – OSRAM Ventures, High-Tech Gründerfonds, Tengelmann Ventures, and Unternehmertum Venture Capital Partners participated in the round. The new financial resources will be used for the first series production and to further strengthen the team.
Blickfeld develops and produces LiDAR (Light Detection and Ranging) sensors for environmental detection. The solid-state sensor developed by Blickfeld provides high-resolution, three-dimensional environmental data and is used in autonomous driving, in robotics and for the Internet of Things. Blickfeld’s patented technology makes high-tech LiDAR devices suitable for mass production.
The increase from $ 4.3 million to $ 10 million in the seed financing round completed just a few months ago will further accelerate the company’s rapid growth. Blickfeld co-founder and CEO, Dr. Mathias Müller: “We have made very good progress with our LiDAR technology in recent months. High international demand confirms the efficiency of the Blickfeld solution. The expansion in seed financing will enable us to bring our first series product to market even faster.”
Ulrich Eisele, Managing Director at Fluxunit – OSRAM Ventures, says: “Results from the first customer projects speak for themselves. That’s why we are expanding our activities at Blickfeld. We are convinced that Blickfeld’s LiDAR technology can be a key building block for the future market of autonomous driving.”
Founded in 2017 by Dr. Mathias Müller, Dr. Florian Petit and Rolf Wojtech, the start-up has grown considerably in recent months. Today, the Blickfeld team already numbers more than 35 employees. The company plans on hiring additional engineers, automotive experts and computer scientists in the upcoming months, as well as expanding its business-development, marketing and sales teams.
Founded in 2017 and based in Munich, Germany, Blickfeld is a provider of cutting-edge LiDAR technology for autonomous mobility and IoT applications. The company has developed proprietary LiDAR technology based on patented silicon MEMS mirrors and commercial off-the-shelf components.
The Blickfeld LiDAR product family meets the highest performance requirements at the cost and size needed for mass market adoption. Due to their range of configurable features, the Blickfeld LiDAR product family provides solutions for multiple use-cases.
Blickfeld’s team is made up of experienced professionals with renowned expertise in the fields of electronics, optics, MEMS and software. The company is backed by venture capital investors including Fluxunit (the corporate venture arm of lighting company Osram), High-Tech Gründerfonds, Tengelmann Ventures, and Unternehmertum Venture Capital Partners.
ABOUT Fluxunit – OSRAM Ventures
Fluxunit is the independent venture capital unit of OSRAM. Building on OSRAM’s role as market leader, Fluxunit invests in high-tech start-ups that go beyond OSRAM’s core business and have the potential to break through and renew existing light-based technologies and business models. Fluxunit’s goal is to support, promote and accelerate the development of start-ups not only through investments but also through access to OSRAM’s resources as a global high-tech company.
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With € 892.5 million in total investment volume across three funds (€ 272 million in HTGF I, € 304 million in HTGF II and € 316.5 million for HTGF III) and an international partner network, HTGF has already backed up 500 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and start-up experts help guiding the development of young companies. HTGF’s focus is on high-tech start-ups across a range of sectors, including software, media, internet, hardware, automation, healthcare, chemicals and life sciences. Up to now, external investors have invested over € 1,8 billion into the HTGF portfolio via more than 1,300 follow-on financing rounds. HTGF has also successfully exited shares of more than 90 companies.
Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, Fraunhofer-Gesellschaft e.V., as well as the companies LTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.
About Tengelmann Venture Capital
Tengelmann Ventures (TEV) is one of Germany’s leading venture capital investors and has invested in over 50 companies over the past five years, many of which have become global players and market leaders in their particular segment. TEV focuses mainly on early- and later-stage investment in technology start-ups, internet marketplaces, and consumer internet companies. The team funds companies worldwide in the role as lead, co-lead or co-investor. In close cooperation with its global network of venture capitalists, professionals and consultants, Tengelmann Ventures always strives to identify promising start-ups and to support the development of its portfolio companies.
About Unternehmertum Venture Capital Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich-based early-stage venture capital firm that invests in technology-based start-ups in Germany, Austria, and Switzerland. VC Partners focuses on investments in the areas of industrial technologies, smart enterprises and mobility. The fund typically invests between € 0.5 – 3 million initially and up to € 12 million in total per company.
Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 180 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer start-ups unique access to talent, industry customers and other financial partners.