LEDDARTECH DECLARES US$140 MILLION IN SERIES D FINANCING COMBINED WITH DEBT FACILITY

KUALA LUMPUR, Feb 4 (Bernama) -- LeddarTech®, a global leader in providing the most flexible, robust and accurate ADAS and AD sensing technology, has announced a successful financing round with an investment of US$140 million, comprising a Series D first close of US$116 million and debt facility of US$24 million. (US$1 = RM4.180)

FS Investors led the financing round with the participation of Investissement Québec, BDC Capital, Go Capital, certain funds managed by Fidelity Investments Canada ULC, Fonds de solidarité FTQ, Export Development Canada, ams OSRAM, Desjardins Capital, UI Investissement, Cowen Investment II LLC and other LeddarTech management.

The debt facility was secured with Desjardins Group, according to a statement.

“The success of this round is a testament to the growth and industry recognition LeddarTech has achieved. I am delighted to welcome FS Investors as our most recent investors, who bring vast experience and expertise in the deep tech sector,” said LeddarTech Chief Executive Officer, Charles Boulanger.

“Our team and I look forward to working with FS Investors, our other new investors and our existing partners to enable our customers to significantly deploy our reliable and cost-effective ADAS and AD solutions across their brands and markets.”

This investment will accelerate the development and commercialisation of LeddarTech solutions. In addition, LeddarTech will use the funds to augment engineering resources to meet the demands from global OEM and Tier 1-2 automotive customers actively engaged with the company for sensor fusion and perception sensing solutions.

Cowen and Desjardins Capital Markets acted as co-advisers in this investment round.

Founded in 2007, LeddarTech has evolved to become a comprehensive end-to-end environmental sensing company by enabling customers to solve critical sensing, fusion and perception challenges across the entire value chain.

More details at www.leddartech.com.

-- BERNAMA