Munich’s Light Detection and Ranging (LiDAR) sensor maker Blickfeld has secured €15 million in debt financing via the European Investment Bank. The funding arrive via the European Fund for Strategic Investments (EFSI), also known as the Juncker Plan. To date, Blickfeld has raised a total of $56 million.
With the new funding, the company plans the continued development of its autonomous mobility and IoT applications-focused sensors and software solutions alongside international expansion efforts, particularly in the US and Asia.
Founded in 2017 by Dr. Mathias Müller, Dr. sc. Florian Petit, and Rolf Wojtech, Blickfeld, which translates to 'field of view', specialises in producing one of, if not the, key components in autonomous transportation; high-resolution 3D sensors (and the associated software to make sense of the gathered data) that essentially act as the ‘eyes’ of the vehicle.
However, the applications of LiDAR technology don’t simply stop and start with mobility, as the sensing technology has found use in smart city management, industrial applications in the areas of warehousing, construction, and mining areas, and naturally, the security sector with its ability to detect, tally, and track just about anything that passes through its field of vision.
“The EIB’s support is testimony to Blickfeld’s maturity as a company and the confidence that those responsible have in the potential of our LiDAR technology. The capital provided by the EIB is the ideal financial instrument for us to expand even faster,” commented Müller. “We are convinced that our LiDAR solutions will make a real difference for many industries and we are very pleased that the EIB has recognised an important innovative technology that will strengthen Europe’s position as a key centre of industry and business.”