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Startup profile: Sense Photonics, developing sensors for autonomous vehicles

Sep, 18 2017, 1:25 PM

Sense Photonics brings a high-profile to the CED Tech Venture Conference, having already raised more than $3 million from investors to back its sensor technology that is crucial for autonomous vehicles.

WRAL TechWire recently profiled the company and its executive team after the funding was disclosed in an SEC filing.

The Tech Venture Conference is set for Sept. 19-20.

This profile is one in a series written, edited and published by WRAL TechWire in partnership with the CED.

Profile: Sense Photonics

The Q&A:

Our focus is on developing the hardware and software necessary to deliver the highest performance, lowest cost LiDAR sensor in the world.

LiDAR is essential for the safe operation of self-driving vehicles. A race is currently on within the industry to develop a LiDAR sensor that meets the stringent cost and performance requirements of the automotive industry. According to Goldman Sachs, this market will grow to almost $100 billion over the next twenty years.

Our solution is based upon proprietary semiconductor technology developed and commercialized over the past 10 years. This technology enables us to deliver higher performance (range, resolution, field of view) at a cost that is over 100 times less than currently available systems.

We are very excited by the opportunity we are addressing for several reasons:

(1) the market is projected to be very large and grow quickly (>$100 billion),

(2) existing solutions are rudimentary, expensive and complex - there are no established incumbents,

(3) our solution is simple and unique, delivering superior performance at much lower costs with no moving parts, and

(4) the core technology is proven and has been commercialized at scale by the founders, lowering risk and enabling a rapid time-to-market.

To date, we have self-funded the company while developing our solution and recruiting customers, partners and investors.

In August, we plan to close on a significant round of outside investment, comprised of leading VC and strategic investors interested in this space.