Automotive manufacturer Ford and internet company Baidu combined yesterday to jointly invest $150m in Veldoyne Lidar, a US-based producer of light, detection and ranging (lidar) 3D mapping technology.
Founded in 1983 as Velodyne Acoustics, the company originally focused on subwoofers before transitioning to lidar sensor technology for self-driving cars and 3D mapping in the mid-2000s.
Velodyne’s lidar systems combine laser-based sensors with the company’s software and algorithms to detect and interpret data from the surrounding environment. They are used in vehicles for mapping, localisation, object identification and collision avoidance, and will play a crucial part in the operation of autonomous vehicles.
The funding will be used to accelerate production of Velodyne’s technology while making it more cost effective, and the company plans to beef up its engineering, operations and manufacturing capabilities accordingly.
Ford’s participation in the round marks the latest in a series of investments in smart car technology, and comes at the same time as it announced the acquisition of Saips, an Israel-based developer of algorithmic engines for machine learning, in order to enhance its machine learning capabilities.
The carmaker also provided $182m for the $253m equity portion of the last round closed by software development services provider Pivotal Software in May, and took part in a $6.6m seed round for autonomous car mapping technology startup Civil Maps last month. It aims to release its first fully driverless car in 2021.
Raj Nair, chief technical officer of Ford, said: “From the very beginning of our autonomous vehicle program, we saw lidar as key enabler due to its sensing capabilities and how it complements radar and cameras.
“Ford has a long-standing relationship with Velodyne and our investment is a clear sign of our commitment to making autonomous vehicles available for consumers around the world.”
Baidu is working on its own autonomous car technology and revealed plans in March this year to test cars in the US with a view to releasing its first driverless car in 2018.
Jing Wang, general manager of Baidu’s Autonomous Driving Unit, said: “Baidu is developing autonomous vehicles with the intention to increase passenger safety and reduce traffic congestion and pollution in China.
“Our investment will accelerate our efforts in autonomous driving with what, in our view, are the best lidar sensors available today and advance Velodyne’s development of increasingly sophisticated lidar sensors.”