Vista-based company TetraVue, a developer of high-definition 4D LIDAR technology, said it has received additional funding to accelerate the commercialization of its long range, high-resolution 4D camera.
The camera could play a role in the markets of autonomous vehicles, machine vision and factory automation because of its ability to process more real-time data describing object location and motion in the surrounding environment than other cameras, the company said.
TetraVue is initially focused on the automotive market.
The new funding, terms of which were not disclosed, came from Silicon Valley-based semiconductor equipment makers KLA-Tencor Corp. and Lam Research Corp. and Chinese clean-tech venture capital firm Tsing Capital.
“We were impressed with the novel approach that TetraVue brings to solving the high-resolution depth sensing problem currently facing automotive makers who plan to deploy autonomous vehicles,” said David Fisher, KLA-Tencor's senior vice president of corporate business development. “Their uniqueness convinced us to bring both our financial and engineering resources to bear to help them realize the vision.”
The new investors joined existing investors Robert Bosch Venture Capital GmbH, the corporate venture company of sensor manufacturer Robert Bosch; Samsung Catalyst Fund, Samsung Electronics’ early-stage VC fund; and Silicon Valley VC firm Nautilus Venture Partners, founded in 2015 by former corporate investors with Samsung and Foxconn Technology Group.
TetraVue raised $10 million in Series A funding in February in a round led by Robert Bosch and Nautilus.