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Luminar and more powered Orlando venture capital activity to a banner year (by Alex Soderstrom)

https://www.bizjournals.com/orlando/news/2021/01/22/luminar-and-more-powered-orlando-vc-activity-to-a.html?ana=e_orl_bn_editorschoice_editorschoice&j=90547347&t=Breaking%20News&mkt_tok=eyJpIjoiTW1NMk16WXpaV1ppTURVMCIsInQiOiJNb1ZyWG1RVTY1RUg0XC8rY21TMFwvTm14TkVVTFNMMCtJditPWW1Pb0pTaHZ4aEM2M0hUWFZ0eVg4QlRJcTRtVHY1ZFVSbTlSNzRNejRaQkl2Z1ZTNk1TenVDSjVNSVU5MEFGYWF0SjZwdWNPV05CS04rMUNBbTdyREk1UmpJSEJGIn0%3D

‘Momentum to continue’

That strong fourth-quarter performance powered 2020 to one of the best recent years for local venture capital activity.

More than half of the $325 million raised last year came from $184 million that investors injected into Luminar Technologies Inc. as part of its merger with Gores Metropoulos Inc. Luminar, an Orlando-based maker of autonomous vehicle sensors, merged with the Beverly Hills, California-based special-purpose acquisition company and went public in December.

The dollars that flowed into Luminar (Nasdaq: LAZR) due to the investment and merger will help the company move into production mode and deliver its sensors to customers that include automaker Volvo. That will mean a bigger engineering and manufacturing presence in Orlando for Luminar, CEO Austin Russell previously told OBJ. In fact, Luminar has 17 open positions listed on its website.

 


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