XenomatiX, a provider of true solid-state lidars for ADAS, autonomous driving, and road digitization, has received funds from nine different entities, including two international investment funds, BNP Paribas Fortis Private Equity and Capricorn Fusion China Fund. With the additional capital, XenomatiX will accelerate the industrialization of price-competitive LiDAR modules.
“The lidar market is maturing; it’s becoming clear which technologies and companies will make it to mass production. There are fewer LiDAR companies than some years ago. We are proud XenomatiX is among the ones that succeed in attracting new investors,” said Filip Geuens, CEO of XenomatiX. “Our recent commercial successes with several leading automotive companies provided the investors with a very relevant technology and business assessment.”
“From our first meeting with XenomatiX management, we were impressed by the professionalism of the team and their clear strategy and business model to deliver LiDAR-modules to Tier-1 players, with a strong focus on meeting automotive key requirements such as reliability and cost,” said Steven Levecke, Senior Investment Manager at Capricorn Fusion China Fund. “With a strong potential in China in the supply chain and in the commercialization, we are enthusiastic to be part of the further evolution of XenomatiX as we see a great fit with the strategy of our Capricorn Fusion China Fund to invest in European innovative companies with ambitious transcontinental growth plans.”
The new investments will also support 6D Road Scanning from XenomatiX, a new business unit to help authorities and municipalities analyze road and infrastructure conditions. Soon, the company is expected to launch a new product for its portfolio of automotive and industrial applications.
“We at BNP Paribas Fortis Private Equity are convinced of the ability of XenomatiX and its management team to become a leading player in the LiDAR market supported by the commercial and technological developments to date,” added Steven Van Droogenbroeck, Investment Associate from BNP Paribas Fortis Private Equity. “Moreover, we are excited to support the company on its road to further commercialization.”