Baraja, an Australia-based lidar technology developer, secured A$40m ($31m) in a series B round yesterday backed by Main Sequence Ventures, the venture firm set up by Commonwealth Scientific and Industrial Research Organisation.
Blackbird Ventures led the round, which also attracted building equipment supplier Hitachi Construction Machinery and superannuation fund Hesta.
Regal Funds Management, Perennial Value Management and InterValley Ventures, a local fund anchored by financial services group Mizuho Financial through its affiliate New Frontier Capital Management unit.
The round valued Baraja at $228m, according to the Australian Financial Review.
Founded in 2015, Baraja’s lidar system, Spectrum-Scan, steers lasers through a prism. The lasers change colour in the infrared spectrum and the refraction through the prism inside Baraja’s sensors enables the system to determine the distance and reflectivity of objects.
The approach means the sensors can automatically adjust to changing environments, effectively emulating how the human…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
