SiLC Technologies has raised $25 million in additional funding in its Series A round, it said in a press release dated Nov. 15. The additional funding will bring the total funding to $56 million. The new funding round includes strategic investors Hokuyo Automatic, Hankook & Co. and ROHM Semiconductor, among others.
The additional funds will be used to expand production and continue product development to support design wins and further application deployments in mobility, robotics, smart cameras, security and other markets.
“We have significant momentum and support from our customer base, which is recognized by our world-class syndicate of investors. This shows that a genuinely differentiated technology that is proven to work and adds real value will get support from its investor and customer base. Even in today’s economic climate we have nearly doubled our total fund raise. We are excited to have such notable industry leaders join us on our journey,” said Mehdi Asghari, SiLC’s CEO and founder.
The company's frequency-modulated continuous wave (FMCW) lidar-based Eyeonic Vision System is designed to enable machines to see like humans, with vision detection capabilities spanning from short distances to over 1 kilometer.