MUNICH — (BUSINESS WIRE) — March 20, 2020 — Munich-based LiDAR start-up Blickfeld has completed its Series A financing round. The new financing was led by the venture capital unit of Continental together with Wachstumsfonds Bayern, which is managed by Bayern Kapital, with participation of the existing investors Fluxunit – OSRAM Ventures, High-Tech Gründerfonds, TEV (Tengelmann Ventures) and Unternehmertum Venture Capital Partners. Blickfeld will use the new financial resources to ramp up production, qualify its LiDAR sensors for the automotive market and strengthen the application development and sales teams for industrial markets.
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Blickfeld Founders fltr: Florian Petit, Mathias Mueller, Rolf Wojtech (Photo: Business Wire)
Blickfeld develops and produces LiDAR (Light Detection and Ranging) sensors and software for environmental detection. The solid-state sensor developed by Blickfeld delivers high-resolution, three-dimensional environmental data and stands out due to its high performance even in adverse environmental conditions and its small size. Blickfeld’s patented technology is particularly advantageous in terms of its industrialization capability and enables highly automated production of the devices, allowing the company to meet the needs of the automotive mass market. The sensors are used in autonomous driving as well as in smart cities, industrial applications and security solutions.
The series A funding enables Blickfeld to ramp up production. "The safety of autonomous vehicles is based on LiDAR sensor technology. We see Blickfeld in a unique position here, as our technology stands out due to its mass market capability," says Blickfeld co-founder Florian Petit. "But the mobility sector is not the only area of application for our LiDAR sensors and recognition software: Numerous other successful customer projects in logistics, smart cities or the security sector confirm our approach, as does the financial commitment of the venture capital unit of Continental, Bayern Kapital and our previous investors. We are now looking forward to taking the next steps into series production."
Nils Berkemeyer, Venture Capital Manager at Continental, states: “Blickfeld’s industry-agnostic value proposition, i.e. reliability, performance and scalability, addresses various growth markets in automotive and beyond. What truly sets the company apart is the advanced technological maturity, which the team has achieved in an extremely short amount of time. Supported by a strong syndicate of VC investors and industry experts, Blickfeld now is in prime position to establish itself as a key player in future sensing technology.”
The start-up Blickfeld, founded by Dr. Mathias Müller, Dr. sc. Florian Petit and Rolf Wojtech, has grown to a team of now over 100 people since it was founded three years ago. Over the next few months, in particular the application development and sales teams will be further expanded so that the company can increasingly pursue potential in industrial applications in addition to the automotive market. In the coming months, the Blickfeld team will also concentrate on qualifying the LiDAR sensor’s core components for the automotive market and further expanding production.
Founded in 2017 and based in Munich, Germany, Blickfeld provides cutting-edge LiDAR sensors and perception software, enabling countless mobility and IoT applications. The Blickfeld LiDAR products meet extremely demanding technical specifications with regard to the performance, cost and dimensions required for the mass market. Blickfeld is backed by Continental, Bayern Kapital, Fluxunit (the corporate venture arm of lighting company Osram), TEV (Tengelmann Ventures), High-Tech Gründerfonds, and Unternehmertum Venture Capital Partners.
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank . As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria.
Presently Bayern Kapital manages twelve investment funds with a total volume of around €385m. So far, it has invested roughly €310m in more than 270 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology.
In this way, more than 7500 long-term jobs in sustainable companies have been created in Bavaria.
About Fluxunit – OSRAM Ventures
Fluxunit is the independent venture capital arm of OSRAM. Building on OSRAM’s leading market position, Fluxunit invests in deep-tech start-ups, which reach beyond OSRAM’s core business and have the potential to disrupt and innovate existing technologies and business models. Fluxunit’s goal is to offer start-ups not only capital, but also access to OSRAM’s resources and global network as a high-tech corporation in order to foster and accelerate their development.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital business models, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.4 billion into the HTGF portfolio via more than 1,500 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.
Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies. Our Fund Investors
About Unternehmertum Venture Capital Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich- and Berlin-based early-stage venture capital firm that invests in technology-based startups in the areas of industrial technologies, enterprise software and mobility. The fund typically invests between € 0.5 - 3m initially and up to € 12m in total per company.
Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 240 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners. The portfolio includes investments such as Blickfeld, Carjump (Free2Move), FlixBus, KONUX, TWAICE and Vimcar.
About TEV (Tengelmann Ventures)
TEV (Tengelmann Ventures) is one of Germany’s leading venture capital investors and has invested in over 50 companies over the past 10 years, many of which have become global players and market leaders in their particular segment. TEV focuses on early-stage investment in startups in the fields of Consumer Internet, Digital Services and Emerging Technologies. Among the most well-known investments of TEV are companies such as Zalando (IPO), Delivery Hero (IPO), Klarna, Scalable Capital and data Artisans.
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