Total amount raised
$709.8 Million
Latest funding date
08/01/2024
Location
Luminar has successfully raised funding over 12 rounds, with the latest being a Post-IPO Equity round. The company is backed by 26 investors, including notable names like Yorkville Advisors and Mercedes-Benz Group AG.
Keep reading to explore the intricacies of Luminar's fundraising journey and the investors backing this innovative lidar technology company.
What Is Luminar?
Luminar is a public company specializing in autonomous vehicle and lidar technology, catering to passenger cars, commercial trucking, and robo-taxi sectors. The company is headquartered in Orlando, Florida.
Founded in 2012, Luminar employs between 501 and 1000 people. The company has raised significant funding through multiple rounds and is listed on NASDAQ under the ticker LAZR.
How Much Funding Has Luminar Raised?
- Round Name: Series Unknown
- Amount Raised: USD 114,000,000
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of Luminar's lidar technology.
- Round Name: Series Unknown
- Amount Raised: USD 100,000,000
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and commercialization of Luminar's new Iris lidar sensors.
- Round Name: Corporate Round
- Amount Raised: Not publicly disclosed
- Date: October 2020
- Lead Investors: Daimler Trucks North America
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and expand market reach.
- Round Name: Post-IPO Equity
- Amount Raised: USD 184,000,000
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and enhance technological capabilities.
- Round Name: Post-IPO Equity
- Amount Raised: USD 154,000,000
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop autonomous vehicle technology.
- Round Name: Post-IPO Equity
- Amount Raised: USD 20,250,000
- Date: January 2022
- Lead Investors: Mercedes-Benz Group AG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance collaboration with automotive partners.
- Round Name: Post-IPO Debt
- Amount Raised: USD 100,000,000
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support long-term financial stability and growth.
- Round Name: Post-IPO Equity
- Amount Raised: USD 35,000,000
- Date: May 2025
- Lead Investors: Yorkville Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing research and development initiatives.
Total Amount Raised: USD 807,250,000. Current Valuation: Not publicly disclosed.
Key Investors
- Yorkville Advisors
- Details: Yorkville Advisors is a private investment firm that has participated in multiple Post-IPO Equity funding rounds for Luminar. They focus on providing flexible and innovative financing solutions to growth companies.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Luminar, Tesla, Uber.
- Mercedes-Benz Group AG
- Details: Mercedes-Benz Group AG is a global automobile manufacturer known for luxury vehicles and commercial vehicles. They have invested in Luminar to enhance collaboration in autonomous vehicle technology.
- Investment Focus Areas: Automotive, technology, mobility solutions.
- Notable Investments: Luminar, ChargePoint, Via.
- Daimler Trucks North America
- Details: Daimler Trucks North America is a leading manufacturer of commercial vehicles in North America. They have invested in Luminar to strengthen strategic partnerships and expand market reach.
- Investment Focus Areas: Commercial vehicles, autonomous driving, logistics.
- Notable Investments: Luminar, Proterra, Torc Robotics.
What's Next for Luminar?
As Luminar continues to innovate with its new Iris lidar sensors, the company is poised to capture a significant share of the automotive market. These sensors, priced as low as $500 each, are set to be commercially available on production vehicles starting in 2022, opening up vast opportunities for growth in the self-driving technology sector.
Given the successful $100 million funding round, Luminar is well-positioned to attract further investment, potentially leading to additional fundraising opportunities. This financial backing will be crucial as the company navigates the competitive landscape of the lidar and autonomous vehicle industry.
However, Luminar will need to prove the effectiveness and reliability of its new sensors in real-world applications. The company faces challenges from competitors and must ensure its technology meets the high standards required for autonomous driving. Despite these hurdles, Luminar's advancements in lidar technology signal a promising future.
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