Baraja receives investment from Veoneer on the heels of the advanced development agreement with global automotive OEM

SYDNEY,Jan. 3,2023 -- The partnership between Baraja,creator of the breakthrough Spectrum-Scan™ LiDAR technology,and Veoneer,the world leader in automotive safety,has been extended with an investment by Veoneer in Baraja. This follows the recent announcement of an advanced development agreement with a major automotive original equipment manufacturer (OEM). Baraja is making significant progress with ongoing validation of its next-generation Spectrum HD25 LiDAR product developed specifically for automotive integration.

Veoneer's investment is a clear signal from leading OEMs and industry players that Spectrum HD25 continues to make strong progress toward commercialization.

Spectrum HD25 marks a generational leap for automotive LiDAR. Built on Baraja's proprietary Spectrum-Scan™ solid-state scanning platform,which was designed from the ground up to completely rethink how cars see the world around them,the Spectrum HD25 will help OEMs enable true autonomy. The LiDAR system provides the range,resolution and performance required for safe deployment of autonomous functionalities,without the traditional trade-offs faced by other legacy LiDAR technologies. Spectrum HD delivers the world's first LiDAR system combining per-point Doppler capability at the hardware level,with a tunable wavelength laser and Random Modulation Continuous Wave (RMCW) ranging method to deliver unparalleled performance and accuracy at range and speed.

"Veoneer is a true leader in automotive safety and this investment validates the market traction of Baraja's per-point Doppler LiDAR technology. We welcome Veoneer's continued commitment to Baraja," said Federico Collarte,Baraja Founder & CEO.

Veoneer initially chose to partner with Baraja after extensively testing technology from 70 LiDAR companies. Baraja was selected based on its robust technology and product roadmap that will meet OEM specifications to enable vehicle integration. Since partnering,Veoneer and Baraja have worked closely together,developing a strong partnership to supply LiDAR technology to global automotive OEMs.

About Baraja

Baraja is building the future of LiDAR to enable the autonomous future. With its revolutionary Spectrum-Scan™ LiDAR technology,Baraja gives leading automotive companies a solid state system in the fast axis that sets a new benchmark in precision and reliability.

Baraja was founded in 2016 by telecommunications engineers Federico Collarte and Cibby Pulikkaseril,who discovered a way to use the industry's proven optical fiber + photonics technology to solve the problems faced by legacy LiDAR. Baraja is backed by Sequoia,Blackbird Ventures,Hitachi Construction Machinery and Main Sequence Ventures.

CONTACT: Brittney,Popa,bpopa@mbe.group

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