BMW and Baidu are among the investors in sensor technology developer Lunewave's seed round, which will go towards building autonomous vehicle sensors based on the Luneburg principle.
Lunewave, a US-based car sensor and antenna developer co-founded by a University of Arizona professor, has secured $5m in seed funding from backers including subsidiaries of internet company Baidu and carmaker BMW.
The deal consisted of $3.8m from an equity round led by McCombs Fraser and backed by respective corporate venturing subsidiaries for Baidu and BMW, Baidu Ventures and BMW i Ventures.
Ekistic Ventures, Urban.us, Plug and Play Tech Center, Shanda Capital and Lighthouse Ventures also supplied Lunewave…
