AEye, a US-based developer of autonomous vehicle vision systems, has closed a $40m series B round featuring electronics producer LG, automotive parts supplier Hella and semiconductor technology provider SK Hynix.
Subaru-SBI Innovation Fund, an investment vehicle for financial services provider SBI Holdings, also took part in the round’s second close. Hella made the investment through its corporate venturing unit, Hella Ventures.
AEye is building a system that will use artificial perception and a high-resolution camera to help self-driving vehicles understand their surroundings. It will use the proceeds from the round to expand its operations.
Venture capital firm Taiwania Capital led the round’s first tranche, which included Intel Capital and Airbus Ventures, subsidiaries of semiconductor producer Intel and aerospace manufacturer Airbus respecitvely, last month.
Kleiner Perkins Caufield & Byers (KPCB), Tyche Partners and R7 Partners also participated in the first close, as did an undisclosed automotive manufacturer.
The company has now raised more than $60m altogether, having closed a $16m series A round in 2016 featuring Intel Capital, Airbus Ventures, KPCB, Tyche Partners, R7 Partners and Trucks Venture Capital.
Photo courtesy of AEye, Inc.