Lumotive, the developer of Light Control Metasurface (LCMTM) beam steering chips that enable the next generation of 3D sensors, announced today that it has raised an additional $13 million in strategic funding led by Samsung Ventures, bringing the total amount raised to date to more than $56 million. The new money will be used by Lumotive to speed the development and customer delivery of optical semiconductor chips that will power the next generation of lidar sensors. More than a dozen world-class firms are now working with Lumotive to build next-generation lidar systems for the autonomy, automation, and augmented reality (AR) markets, taking advantage of the company’s LCM chips’ high performance, compact form factor, and low cost.
Lumotive’s transformative optical semiconductors are enabling the next generation of 3D sensing for consumer, mobility, and industrial markets. The company’s Light Control Metasurface (LCM™) optical semiconductors utilize revolutionary, patented beam-steering technology to deliver an unprecedented combination of best-in-class performance, cost, reliability, and size. Lumotive’s LCMs enable the industry’s first software-defined lidar with advanced perception capabilities.
Samsung Venture Investment Corporation was established to promote promising small and medium-sized companies engaging in the development of new technologies. Our collaboration is based on managerial know-how and trust, and actively investing in future-oriented businesses based on new and innovative technologies that are expected serve as new growth engines. Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and investment and retirement solutions to nearly 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, Tex., USAA has offices in eight U.S. cities and three overseas locations and employs more than 37,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work.