Scania Growth Capital invests in sensors for autonomous vehicles
Scania’s corporate venture capital-fund announces investment of € 7,5 million in Scantinel to finance further growth in its specialist LiDAR (Light Detection and Ranging) technology.
Scantinel Photonics GmbH is a leading LiDAR (Light Detection and Ranging) start-up and a part of the ZEISS Ventures portfolio, based in Germany. The company develops and produces FMCW LiDAR (Frequency Modulated Continuous Wave) sensors for next-generation LiDAR systems that are a prerequisite to reach a higher level of automation. The technology Scantinel offers delivers a new dimension of data to future vehicles as the sensors measure distances and velocity to objects in the plus-300-meter range with a high level of integration and solid-state scanning.
“The future performance and safety of autonomous vehicles is based on unique FMCW LiDAR sensor technology. We see Scantinel as the technology leader in its field and are excited to follow the development at a close range,” says Christian Zeuchner, partner at the Scania Growth Capital management company.
The funding enables Scantinel to further improve FMCW LiDAR technology, and to commercially implement this technology in close cooperation with customers and technology partners.
“We see a great benefit from having Scania’s corporate venture capital fund as investor and are pleased to welcome Scania Growth Capital on board to support us on our continuous growth journey,” says Scantinel CTO & Co-founder Andy Zott.
About Scania Growth Capital
Scania Growth Capital is a corporate venture capital fund that invests in growth companies with strategic relevance to Scania and Scania’s ecosystem of customers and partners.
The fund is managed by an external management company with a team that has extensive experience in both investments and the automobile industry.
Through Scania Growth Capital, Scania reaches a segment of complementing companies, giving Scania an opportunity to tap into early development and innovation that is relevant to the industry but outside Scania’s own core operations. For more information, visit scaniagrowthcapital.com.