Ouster has bought the Congruent Ventures-backed lidar technology developer and will restructure the business as a wholly-owned subsidiary called Ouster Automotive.

Sense Photonics, a US-based developer of lidar technology that offers an ultra-wide field of view, has agreed to an acquisition by lidar system producer Ouster, offering an exit to University of California-aligned Congruent Ventures. Ouster will pay 9.5 million shares, worth – on the morning of the announcement – nearly $71.3m. Following the deal’s completion, expected in the fourth quarter of this year, Sense Photonics will be restructured into a wholly-owned subsidiary called Ouster Automotive. It will be led by Sense’s chief executive Shauna McIntyre and will aim to accelerate Sense’s roadmap. Some 80 employees of Sense will join remain with the business, with some having agreed to five-year retention packages. Founded in 2016, Sense Photonics is working on lidar technology for autonomous vehicles that analyses surroundings by flashing light at it and using a sensor to detect obstacles. It emerged from stealth in 2019 with $26m in series A funding co-led by Congruent Ventures and Acadia Woods, with participation from Samsung Ventures and Shell Ventures, respective units for conglomerate Samsung and oil and gas company Shell. Prelude Ventures, Hemi Ventures and IPD Capital filled out the series A round, which followed $2.8m and $500,000 in funding in 2017, according to regulatory filings.

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
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).