Luminar is entering the consumer automotive and commercial trucking markets with a sensing and perception platform called Iris. After three years of stealth development, the company also revealed its perception software built on its LiDAR sensing platform.
A recent addition of $100 million, along with previously unannounced capital, brings the company’s total raised to date to more than $250 million.
Iris represents the next major milestone in the industry, just over a year after Luminar introduced its sensor for autonomous development fleets, and two years after the company first unveiled its breakthrough LiDAR technology, built from the chip-level up, as it came out of stealth in 2017. Today, 12 of the world’s top 15 automotive companies are working with Luminar’s sensing platform as part of global self-driving development programs to ultimately deliver on the promise of safe and ubiquitous autonomous transportation.
Iris is slated to launch commercially on production vehicles beginning in 2022, and is the first sensing platform to exceed the essential performance, safety, cost and auto-grade requirements needed to deliver Level 3 and 4 autonomy to consumers. With now over 40 issued patents and nearly 200 total filings for its pioneering innovations, Luminar has become widely known for its breakthrough 3D data with camera-like high resolution and radar-like long range - even with notoriously hard to see dark objects like a black car or tire in the road, out to 250 meters.
These capabilities will extend into the Iris platform in a new, highly compressed form factor for seamless integration into vehicles, starting at a sub $1,000 pricing target in volume.