ALBUQUERQUE, N.M., May 17, 2017 /PRNewswire/ -- TriLumina Corp., the leading provider of solid-state automotive LiDAR illumination for ADAS and autonomous driving, today announced that it has closed and additional $9 million equity and debt financing. Proceeds will be used to accelerate the development of its cost-effective, compact LiDAR illumination modules to enable broad deployment of commercially viable automotive LiDAR systems. The financing included new investors such as Kickstart Seed Fund as well as reinvestment by current stakeholders Stage 1 Ventures, Cottonwood Technology Fund, DENSO Ventures and Sun Mountain Capital.
"TriLumina continues to execute on their vision for LiDAR illumination modules that fundamentally enable autonomous driving," stated Ray Quintana of Cottonwood Technology Fund. "Cottonwood's continuing investment in this technology ensures the future of this indispensable ADAS functionality."
"We are excited about the unique and differentiated illumination technologies TriLumina brings to the automotive LiDAR market," said Lee Rand, partner at Sun Mountain Capital. "Our investment in TriLumina reinforces our belief in the strength of their technology's ability to move LiDAR systems into the broader mainstream market."
TriLumina's powerful illumination modules accelerate the development of new low-cost LiDAR sensor systems enabling enhanced safety and future autonomous vehicle platforms. TriLumina's illumination modules replace the expensive, bulky scanning LiDARs used in today's autonomous vehicle demonstration programs with high-resolution, long-range sensing in a small, robust and cost-effective package, enabling the successful commercial deployment of semi-autonomous and autonomous vehicles.
TriLumina has moved from initial technology development to sampling its proven solid-state LiDAR illumination modules to major Tier1s in the automotive industry. This milestone brings autonomous driving one step closer to fruition for the mass market.
"TriLumina continues to accelerate on the execution of our plans to develop low-cost laser Illumination modules based on our flip-chip, back emitting VCSEL arrays for automotive LiDAR," stated Brian Wong, TriLumina's CEO. "This funding enables us to refine our products for customers, build-out our manufacturing supply chain and complete our quality infrastructure, thereby enabling us to launch products into the autonomous vehicle ecosystem in the near future."
About TriLumina Corp.
TriLumina is the world's leading provider of solid-state, back-emitting VCSEL laser array technology enabling Autonomous Driving and ADAS systems. TriLumina's high power laser emitters provide low-cost, small form factor, high-power illumination for Light Detection And Ranging (LiDAR) as well as Driver Monitoring Solutions (DMS). Visit http://www.trilumina.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/trilumina-closes-additional-round-of-funding-300458971.html
SOURCE TriLumina Corp.