New York-based Voyant Photonics raises $15.4 million in Series A round of funding. The round was led by UP.Partners while existing investors LDV Capital and Contour Ventures too participated. The company has raised nearly $19.8 million in its previous three rounds of funding.
Voyant creates chip-scale LiDAR 3D sensing technology. Its LiDAR system consists of thousands of optical components fabricated on a single semiconductor chip. This enables its customers to integrate an effective and exponentially more scalable LiDAR system than possible to date.
Previously, LiDAR systems were fabricated using discrete mechanical and optical components. This resulted in large and expensive solutions. Voyant Photonics’ solution radically reduces the size and manufacturing complexity of LiDAR. Voyant’s LiDAR chips pave the way for large-scale adoption of 3D sensing in the same way that CMOS image sensors enabled the accelerated growth of digital photography.
The 2018-founded startup leverages commercially available and scalable semiconductor fabrication processes that combine thousands of optical and electrical components onto a single chip. This enables Voyant to mass-produce a LiDAR system similar to how computer chips are made. This groundbreaking technology will make Voyant LiDAR a ubiquitous technology for machine perception.
Co-founders Chris Phare and Steven Miller had been working on LiDAR chips for years at Columbia University’s Lipson Nanophotonics Group when they decided to commercialize their technology and launched Voyant Photonics.
Miller and Phare’s unique insight was to apply the silicon photonics technology used for optical data communications, the same technology that has made high-performance data center fiber optics affordable. “When you fabricate a LiDAR system on a chip, the fabrication cost stays the same regardless of how many components you use,” said Phare. “We will soon be selling LiDAR systems for a few hundred dollars and longer-term will sell them for less than a hundred dollars at scale.”
Voyant Photonics’ devices demonstrate a complete LiDAR system in a field-deployable package, using Voyant’s patented techniques for on-chip digital beam steering, optical signal processing, and laser control.
“When we started on our mission to make LiDAR a ubiquitous technology for machine perception, a lot of people said silicon photonics was not ready to leave the lab,” said Miller. “Our successful first milestones prove that we can build a complete LiDAR solution that meets industrial needs, using silicon photonics, and deploy it anywhere.”
“Now that we can make LiDAR systems on semiconductor chips, we can make them better and less expensive with every development cycle, similar to Moore’s Law for computer chips,” added Phare. “While the excellent performance of our first LiDAR chips surprised even us, this is just the beginning. Just like with computer chips and camera sensors, every design iteration will get better.”
“Ubiquitous 3D vision is critical to enabling the transformation of the world of transportation and beyond. We are honored to partner with the Voyant team who is the leading innovator in the field. Their solution will leapfrog all competitors and deliver a scalable solution to enable 3D vision,” says Ben Marcus, Managing Partner of UP.Partners.
“I am so excited with the progress we have made. Our team has accomplished so much, and now we are delivering the first LiDAR systems of their type powered by an integrated photonic chip,” says Peter Stern. “Our diverse customers in robotics, AGVs, mobility, industrial automation, and security all have one thing in common – they are building solutions that need to understand the world around them… That is what our LiDAR systems provide.” Peter is a serial entrepreneur who has a background in creating military-grade LiDAR. He started as an advisor to Voyant and recently became CEO.
