SteerLight announces the closing of a €2 million financing round with a group of investors led by Stellantis Ventures, as well as Quantonation and LIFTT, venture capital focused on deep-tech.

This funding is in addition to a €1.2 million loan from three banks, including Bpifrance.

This injection of capital will enable SteerLight to pursue the development of its LIDAR prototype based on an electronic chip. This technology, which exploits silicon photonics, promises to deliver substantial improvements in terms of performance, cost and compactness over existing LIDAR solutions.

François Simoens, PhD, founder and CEO of SteerLight, explains: 'This round of funding will now enable us to develop a functional demonstrator for testing in an industrial environment, and to accelerate the design of the first LIDAR product prototype. Subsequently, a further round of funding will be required to accelerate production of this product and develop the second generation, which will serve customers in both industry and the automotive sector, aiming for mass production at a competitive price'.

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