MONTRÉAL and QUEBEC CITY, May 21, 2013 /CNW Telbec/ - LeddarTech today
announced the closing of its latest round of venture capital financing
for $2.5 million. LeddarTech is the owner of the patented LeddarTM LED-based detection technology, a 3D detection solution that combines
LED lighting and innovative signal processing into an accurate and
robust detection solution. iSource, Accès Capital and
Desjardins-Innovatech also participated in the financing led by GO
Capital LP and BDC Venture Capital.
"This financing will enable LeddarTech to continue rolling out its
LeddarTM technology internationally, and thereby build recognition of the
technology," said Charles Boulanger, acting President of LeddarTech.
"Clients spanning the globe have already chosen Leddar™ technology for
its unique benefits that effectively meet their traffic management
"We are convinced that LeddarTech has what it takes to grow and move to
the next level of competition," added Réjean Asselin, Partner with BDC
Venture Capital's GO Capital Fund. "We are always delighted to find and
support the next generation of Canadian leaders in emerging technology
sectors. We hope that this financing will provide the LeddarTM technology with the best expansion opportunities."
LeddarTM, which stands for "Light Emitting Diode Detection and Ranging," is a
unique, patented technology. Excelling on the widest range of
performance criteria, LeddarTM holds the best cost/performance ratio when compared with competing
detection technologies (laser, radar, video, thermal imaging,
ultrasonic, and PIR/motion).
About LeddarTech (www.leddartech.com)
LeddarTech is the world's only supplier of advanced 3D detection and
tracking systems based on patented Leddar™ technology.
About GO Capital
GO Capital LP is a $50 million venture capital fund that invests in
Quebec seed-stage technology firms in the fields of cleantech,
information technologies and life sciences. GO Capital is managed by
its General Partner, the Business Development Bank of Canada.
About BDC Venture Capital
With more than $1 billion under management and more than 25 years of
industry experience, BDC Venture Capital is an investor of choice
focusing on IT, health, and energy/clean technology companies, as well
as venture funds, with high growth potential. From seed through
expansion to exit, our mandate is to help build outstanding Canadian
companies, while working to create a sound financial ecosystem for
Canadian technology ventures. Find out more at www.bdc.ca/vc or on Twitter @BDC_VC.
SOURCE: Business Development Bank of Canada
For further information:
418 653-9000, ext. 221
Manager, Public Relations
BDC Venture Capital