LeddarTech enters strategic licensing agreement with Solid State LiDAR Protection Inc.
LeddarTech, a global software company headquartered in Quebec City, has announced a strategic license agreement with Solid State LiDAR Protection Inc. This agreement marks a significant step forward in LeddarTech's mission to become the most widely adopted sensor fusion and perception software solution for improved vehicle awareness, making global mobility safer, more efficient, sustainable, and affordable.
Under the terms of the agreement, Solid State LiDAR Protection will rebrand and commercialize LeddarTech's products, and LeddarTech will receive royalty payments from the sale of these products. This partnership is one of three strategic licenses established by LeddarTech in 2023 with key partners.
LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions for Advanced Driver-Assistance Systems (ADAS), autonomous driving (AD), and parking applications. The company's LiDAR technology assets have been instrumental in establishing a low-touch, high-margin, royalty-based licensing business model.
These LiDARs, developed by LeddarTech, are solid-state and have been instrumental across a wide range of applications, with over 65,000 units delivered since 2010. LeddarTech's automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment for better decision making and safer navigation.
Allan Lee, President of Solid-State LiDAR Protection Inc., expressed enthusiasm about the partnership, stating that the licensing agreement aligns with their vision to bring advanced, solid-state LiDAR solutions to the market. Michael Poulin, Vice-President of Corporate Strategy and Development at LeddarTech, also expressed his excitement about the partnership.
For more information about LeddarTech, visit their website at www.LeddarTech.com or follow them on various social media platforms such as LinkedIn, Twitter, Facebook, and YouTube. The agreement with Solid State LiDAR Protection is the latest in a series of strategic moves by LeddarTech, which also includes partnerships with Trimble and Oxbotica in 2023.
It is important to note that the text does not provide information about any financial details or performance of LeddarTech. The text does include forward-looking statements that are subject to risks and uncertainties, and actual results could differ materially from those contained in any forward-looking statement.
LeddarTech's technology is available to Original Equipment Manufacturers (OEMs) and Tier 1-2 suppliers for efficient implementation of automotive and off-road vehicle ADAS solutions. LeddarTech holds over 160 patent applications (87 granted) that enhance ADAS, AD, and parking capabilities.
In conclusion, the strategic license agreement between LeddarTech and Solid State LiDAR Protection is a significant step forward in the development and commercialization of advanced LiDAR technologies. This partnership is expected to bring advanced, solid-state LiDAR solutions to the market, contributing to safer, more efficient, sustainable, and affordable global mobility.
