Munich-based startup Blickfeld has expanded its seed funding to $10 million. The LiDAR sensor provider was able to convince existing investors Fluxunit – OSRAM Ventures, High-Tech Gründerfonds, Tengelmann Ventures, and Unternehmertum Venture Capital Partners to increase their investment. The new funds will be used for the first series product and to strengthen the team.
Blickfeld develops and produces LiDAR (Light Detection and Ranging) sensors for environmental detection. The newly developed sensor provides high-resolution, three-dimensional environmental data for applications in the automotive and robotics industries, among others. The patented technology enables high-tech LiDAR devices to be ready for series production.
The increase in Seed financing round completed just a few months ago from 4.3 million to 10 million dollars is intended to accelerate the company's rapid growth. Co-founder and CEO Dr. Mathias Müller:
"In recent months, we have made excellent progress with our LiDAR technology. Strong international demand confirms the performance of the Blickfeld solution. Expanding our seed funding will enable us to bring our first series product to market even faster."
“Blickfeld brings key component for autonomous driving”
One of the investors, Ulrich Eisele, Managing Director Fluxunit – OSRAM Ventures, explains:
"The results of the first customer projects speak for themselves. Therefore, we are further expanding our commitment to Blickfeld."
He adds:
“We are convinced that the LiDAR technology of Blickfeld can be a key building block for the future market of autonomous driving.”
The startup, founded in 2017 by Dr. Mathias Müller, Dr. Florian Petit, and Rolf Wojtech, has grown significantly in recent months: Today, the team already consists of more than 35 employees. The company plans to continue growing in the coming months, primarily hiring engineers, automotive experts, and IT specialists. At the same time, the business development, marketing, and sales teams are to be strengthened.
