Subsidiaries of semiconductor producer Intel and aerospace manufacturer Airbus have contributed to a $40m series B round for AEye, a US-based company creating computer vision technology for autonomous vehicles.
Intel Capital and Airbus Ventures were joined by Taiwan-based Taiwania Capital, which led the round, and fellow venture capital firms Kleiner Perkins Caufield & Byers and Tyche Partners, as well as unnamed automotive original equipment manufacturers that AEye plans to reveal in early 2019.
AEye is developing the visionary sensors and technology used to help self-driving vehicles navigate their path. Its iDAR system uses artificial perception and a high-resolution camera to assess and prioritise relevant information when the car is being driven.
The company’s series B round takes its overall funding to $61m and the proceeds will be used to fund new partnerships with contract manufacturers and support an expansion into Asia.
Luis Dussan, AEye’s founder and CEO, said: “This funding marks an inflection point for AEye, as we scale our staff, partnerships and investments to align with our customers’ roadmap to commercialisation.
“Our strategic relationship with Taiwania will serve as a gateway to Asia, with valuable manufacturing, logistics and technology resources that will accelerate our ability to address the needs of a global market.
Intel Capital and Airbus Ventures both took part in the company’s $16m series A round in 2016, investing alongside Kleiner Perkins Caufield & Byers and Tyche Partners. Its earlier investors also include R7 Partners and Trucks Venture Capital.