KUALA LUMPUR, Dec 4 (Bernama) -- LeddarTech Inc has closed a US$ 23.7 million of bridge financing for expansion of its research and development teams to accelerate the introduction of its automotive LiDAR development platform. (US$1 = RM 4.19)
The financing consists of a revolving loan from Desjardins Group -- one of the leading Canadian financial cooperatives -- and a convertible note from existing shareholders, led by Desjardins-Innovatech, S.E.C, a statement said.
“The financing from both our strategic and financial investors, as well as the continuous support from our banking partners in our growth, is a testament to the continued confidence they have in LeddarTech,” said Chief Executive Officer of LeddarTech, Charles Boulanger.
“The new investment will enable us to enhance the organisation at all levels to meet market demand and support these new customers,” said president and COO of LeddarTech, Frantz Saintellemy.
LeddarTech is an industry leader providing the most versatile and scalable automotive LiDAR development platform. More details on www.LeddarTech.com.
-- BERNAMA
-- BERNAMA
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