Quanergy Systems, a US-based 3D mapping technology provider backed by electronics manufacturer Samsung, has raised $30m in an oversubscribed series A round.
Venture fund Rising Tide Fund led the round, which included funding from Wicklow Capital, Motus Ventures and Wardenclyffe Partners.
Quanergy has now raised $34.5m in total, with its past investors including Samsung Ventures, which acts as Samsung’s corporate venturing arm, consultancy firm Lahlouh, Newbury Ventures, TEEC Angel Fund, San Feliu Partners and Markis.
Founded in 2012, Quanergy develops Lidar sensors and software that are used for real-time capturing and processing of 3D mapping data. It will put the funds toward developing and commercialising its technology.
Louay Eldada, chief executive of Quanergy, said: “This investment speaks volumes about the level of confidence investors have in our technology and our ability to execute.
“Quanergy’s Lidar technology is the most capable, cost-effective, and compact; our global partners also continue to validate Quanergy as the leader in performance and affordability.”