Blackmore Sensors and Analytics, a leading developer of FMCW (Frequency Modulated Continuous Wave) leader in the automotive industry, today announced that it has raised $18 million in the Series B funding round led by BMW i Ventures. Additional investments come from Toyota AI Ventures, Millennium Technology Value Partners and Next Frontier Capital.
“Advances in new sensor technologies, such as lidar, will make cars safer and, eventually, more autonomous,” said BMW i Ventures partner Zach Barasz. “Blackmore has a unique and innovative FMCW lidar technology that delivers a new data dimension to future vehicles. “In order to enable self-driving vehicles, low-cost lidar sensors are required In addition to being more cost-effective, Blackmore’s FMCW lidar technology has several competitive advantages over traditional pulsed lidar systems, enabling autonomous driving teams to achieve their goals more quickly.
“Perception is critical to the perception-prediction-planning automated driving stack, and we’re excited to see the innovations Blackmore is bringing to the top of this stack,” said Jim Adler, Managing Director of Toyota AI Ventures. “Blackmore’s groundbreaking FMCW lidar technology is designed to eliminate interference, improve long-range performance and support both range and speed—a triple threat to make autonomous driving safer. “That’s right.
Well, according to Dr. Randy Reibel, CEO of Blackmore, is the last capability that distinguishes Blackmore’s sensor from its competitors. “Being able to measure both the speed and the distance to any object gives self-driving systems more information to navigate safely,” Reibel said. “Blackmore provides software and analytics to enable its customers to get the most out of the FMCW lidar sensors. “That’s right.
Blackmore will use the investment to scale the production of its advanced driver assistance systems (ADAS) and self-driving market lidar sensor FMCW. Increased production capacity will enable Blackmore to support the growing sector of autonomous driving teams demanding a superior lidar solution.
Blackmore Sensors and Analytics, Inc.
Blackmore is a leader in developing compact and robust FMCW (Frequency Modulated Continuous Wave) lidars and supporting analytical tools and software. Blackmore’s core technology brings advanced modern radar tools into the optical domain, enabling a new era of unprecedented lidar system performance. Blackmore’s technology is ideal for a variety of intense, mission-critical, automotive, military and industrial environments, where cost and performance specifications limit more traditional sensors. Blackmore is based at Bozeman, Montana. Visit: www for more information Blackmoreink Come on,
About BMW and Ventures
BMW i Ventures, BMW’s EUR 500 million venture capital fund, invests money and resources in start-ups in the fields of autonomous driving, digital car and automotive clouds, e-mobility, artificial intelligence and data, Industry 4 0, shared and on-demand mobility, digital customer life and energy services The company has already partnered with innovative companies such as Carbon3D, Chargepoint, DesktopMetal, JustPark, Life360, Moovit, Nauto, Scoop, Stratim, Turo, Xometry and Zendrive. BMW i Ventures invests from seed and incubation to growth companies at all stages.
Toyota AI Ventures
Toyota AI Ventures is a Silicon Valley-based venture capital subsidiary of the Toyota Research Institute (TRI) that invests in promising start-ups from around the world. The Fund focuses on companies developing solutions in the fields of artificial intelligence (AI), robotics, autonomous mobility, data and cloud technology that share the mission of TRI to improve the quality of human life through AI More information can be found at Toyota-AI Businesses
About the Millennium Technology Value Partner
Millennium is a New York-based investment firm with almost $500 million under management. Over the past 15 years, Millennium has invested in more than 80 technology companies, including well-known leaders such as Facebook (FB), Alibaba (BABA), Twitter (TWTR), Zappos (AMZN), Spotify, Chegg (CHGG), Tellme (MSFT), RigNet (RNET), PrecisionHawk, HauteLook (JWN), Tumblr (YHOO), ETF Securities, LegalZoom, NetSpend (TSS), Pentaho (HDS), ID Analytics (LOCK), Sunrun (RUN), LifeLock (SYMC), A. To date, 47 IPO and M&A events have been achieved by the company’s portfolio companies. Millennium is an active investor in companies that are at the forefront of emerging technologies, such as Autonomous Vehicles, Drones, Mapping, Artificial Intelligence and Big Data and Data Analytics. More information is available at www MTVLP’s Come on,
Next Frontier Capital
Next Frontier Capital (NFC) partners with mission-driven entrepreneurs to build Montana technology companies with national impact, utility and value Founded in 2015, the firm is backed by a well-diversified pool of investors, endowments, foundations and executives from the world’s leading technology and financial firms, who are joining us in recognizing the region’s extraordinary growth in technology flow. To date, NFC has made twelve investments in financing rounds for our portfolio companies SiteOne Therapeutics, Submittable, Clearas, Quiq, Orbital Shift, Phoenix Labs, Blackmore Sensors and Analytics, IronCore Labs, OppSource, Remix Labs, Ataata and XMaps, which have raised a total of $92m of capital from NFC and our partnering venture and strategic firms Summit Partners, Venrock, BMW i Ventures, Toyota. NFC is based in Bozeman, Missoula, Montana.
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