A+ investment round is now complete

Addor Capital have followed up their A-round investment with additional investment in our A+ round. The firm’s knowledge and expertise have been invaluable since their initial investment and we appreciate their vote of confidence as we move into the next stage of our expansion.

Addor is joined in this round by Honest Capital, a Suzhou-based private equity firm managing a total of 5 funds with RMB 700 million AUM. Honest Capital’s team have several decades of experience and have led investment in more than 20 portfolio companies who achieved public listing.

The funds will be used to scale FLiDAR manufacturing, expand into the international market, and commercialize a promising new product line currently in the R&D phase. In the past 6 months our team has grown to over 30 talented engineers, technicians, and business professionals, a fleet of 17 FLiDARs with several more being deployed over the next few months, and the buoy for our Stage II validation campaign (against an IEC-compliant met mast) ready for deployment.

We would like to thank Addor Capital and Honest Capital for their trust in our team as we now look to build upon the momentum from our past year of success.