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 partner, has announced an investment of €7.5 million in Scantinel Photonics GmbH.
Scantinel is a leading LiDAR (Light Detection and Ranging) start-up and a part of the ZEISS Ventures portfolio, based in Germany. The funding will enable it to further improve FMCW (Frequency Modulated Continuous Wave) LiDAR technology to commercially implement this technology in close cooperation with customers and technology partners.
Scantinel develops and produces FMCW LiDAR sensors for next-generation LiDAR systems that are a prerequisite to reach a higher level of automation. The technology 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 high integration and solid-state scanning level.
Christian Zeuchner, Partner at the Scania Growth Capital management company, said, 'The future performance and safety of autonomous vehicles are 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.'
Andy Zott, CTO & Co-founder, Scantinel, said, '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.