ADAS and AD sensing technology specialist LeddarTech has announced a successful financing round with an investment of US$140m, which comprises a Series D first close of US$116m and debt facility of US$24m.
FS Investors led the financing round with the participation of Investissement Québec, BDC Capital, Go Capital, certain funds managed by Fidelity Investments Canada ULC, Fonds de solidarité FTQ, Export Development Canada, ams OSRAM, Desjardins Capital, UI Investissement, Cowen Investments II LLC and other LeddarTech management. The debt facility was secured with Desjardins Group.
LeddarTech intends to use the investment to accelerate the development and commercialization of its solutions, alongside using the funds to augment engineering resources to meet the demands from global OEM and Tier 1-2 automotive customers actively engaged with the company for sensor fusion and perception sensing solutions.
“Our decision to partner with LeddarTech began with our introduction to the corporate senior management team. Individually, the senior team possess decades of experience in the technology industry. In addition, many have worked with major global automotive and sensing technology companies,” stated Nick Stone, founder and partner of FS Investors.
“An extensive due diligence process coupled with strong customer validation confirmed that LeddarTech’s unique solution is the best positioned in the market to unlock mass adoption of ADAS and AD by breaking typical software dependency on hardware in sensing.”