Leosphere, a France-based producer of laser radar remote sensor (LIDAR) technology, has closed the second tranche of a €20m ($27.7m) equity round supported by Electranova Capital, the venture capital fund sponsored by power company EDF.
Leosphere completed the round’s €10.5m ($14.6m) first tranche in December 2012 with an investment from cleantech private equity firm Oraxys. The company said at the time of the first close that it planned to use the cash to buy out investors Scientipôle Capital and Hedera Finances.
Spun-out of Franco-Singaporean research laboratory ONERA in 2004, Leosphere produces LIDARs that can measure wind conditions, and that are used by wind power project developers, turbine makers, utilities, researchers and aviation authorities.