Xenomatix Raises 5M Euros

De Rijkste Belgen newspaper reports that LiDAR startup Xenomatix raises 5M euros. 2M euros comes through the conversion of a bond loan, while 3M is a fresh investment by Carl Van Hool and AGC Automotive Europe, a part of Asahi Japan. XenomatiX and AGC have partnered to develop a windshield-mounted LiDAR.

For a LiDAR commercialization, Xenomatix is said to need 10M euros. After the current round of financing, the company has 6.8M euros. In the fiscal year that ended in June 2018, Xenomatix was profitable with income of 0.6M euros. Xenomatix has 22 employees.