Foley Represents Samsung Ventures as Lead Investor in Strategic Funding Round for Lumotive

17 October 2022 News

Foley & Lardner LLP represented Samsung Ventures as the lead investor in a round of strategic funding for Lumotive, the developer of Light Control Metasurface (LCM) beam steering chips enabling the next generation of lidar. Samsung Ventures was joined by additional investors Himax Technologies Inc., Bill Gates, Quan Funds, and MetaVC Partners. 

Lumotive plans to use the funding to accelerate the development and customer delivery of optical semiconductor devices that enable the next generation of lidar sensors. More than two dozen companies are currently engaged with Lumotive to utilize the high-performance, small form factor, and low-cost advantages of the company’s LCM chips to develop next-generation systems for autonomy, automation, and augmented reality (AR) markets.

Lumotive’s transformative optical semiconductors are enabling Lidar 2.0 for consumer, mobility, and industrial markets. The company’s LCM optical semiconductors utilize revolutionary beam-steering technology to deliver a combination of best-in-class performance, cost, reliability, and size. Lumotive’s LCMs enable the industry’s first software-defined lidar with advanced perception capabilities.

The Foley team was led by Partner Louis Lehot and included Partners Michael Overly, Raj Tanden, Shabbi Khan, and Casey Knapp, and Associates Ethan Floyd, Ashley Lee, Stephen Moore, and Tiffany Young.