Lumotive, a LiDAR technology start-up, has raised $13 million in its latest funding round.
Known for its Light Control Metasurface beam steering chips, the start-up secured funding from new investors USAA and Uniquest, while the round itself was led by Samsung Ventures – the tech firm’s investment division. It brings the total amount of funds raised for Lumotive to over $56 million.
The start-up will use the new funding to accelerate the development and delivery of its optical semiconductor devices that will support the development of new LiDAR sensors. Lumotive confirmed that more than 24 companies are currently engaged with it, leveraging its chips to develop new LiDAR systems for future autonomous driving applications.