Communications, media and automotive conglomerate Cox Enterprises and energy company Exelon have taken part in $60m round for US-based sensor technology developer Ouster, VentureBeat reported on Monday.
Investment firm Runway Growth Capital led the round, which included Silicon Valley Bank, Fontinalis Partners, Carthona Capital and undisclosed other investors. Exelon took part through its corporate venturing unit, Constellation Technology Ventures.
Ouster is developing light detection and ranging (lidar) technology that will help automotive vehicles, industrial robots and unmanned aerial vehicles sense surrounding objects.
The sensors, which calculate distances to objects by utilising laser light to measure reflected pulses, are also used in the mapping, defence, mining and agriculture sectors.
Ouster will use the proceeds to expand its production facilities, including a newly opened quality assurance testing and sensor calibration centre in California, as well as making strategic hires across its engineering, operations, business development and marketing teams.
The company emerged from stealth in December 2017 with $27m secured in a series A round led by Cox Enterprises that included Constellation Technology Ventures, Tao Capital Partners, Fontinalis Partners, Carthona Capital and Amity Ventures.