Ouster Opts for Cuts to Reduce Costs: Week in Brief: 09/23/22

SAN FRANCISCO, Sept. 23, 2022 — Ouster, a provider of high-resolution digital lidar sensors, enacted a comprehensive cost reduction initiative, streamlining its cost structure and extending its expected cash runway. The company is targeting $107 million in gross cash to be spent in 2023. This represents a reduction of more than 15% compared to annualized gross cash spent based on the second quarter of 2022. The company is reducing operational expenditures through budget realignment and an approximately 10% workforce reduction.

GLASGOW, Scotland — Semiconductor technology company III-V Epi produced experimental telecom laser structures targeting temperature-insensitive operation. The epitaxy development was for the University of Surrey, funded by an award from the U.K.’s Engineering and Physical Sciences Research Council.

WALTHAM, Mass. — Repligen Corp., a life sciences company focused on bioprocessing technology leadership, entered into a strategic partnership and exclusive license agreement with DRS Daylight Solutions to expand the use of mid-infrared technology in the bioprocessing. Through the agreement, Repligen will assume responsibility for the commercialization of DRS Daylight’s Culpeo spectrometer as well as development of future products and technologies in partnership with Daylight.

SAN MATEO, Calif. — Brelyon, the MIT spinoff developing display technology for virtual reality, raised $15 million in series A financing led by Lockheed Martin Ventures and the MIT-affiliated E14 Fund with participation from Corning Inc., LG Technology Ventures, UDC Ventures, and Franklin Templeton.

LEESBURG, Va. — Quantum Computing Inc. (QCI) launched a subscription service that provides enterprises with access to its Dirac 1 Entropy Quantum Computing (EQC) system. Dirac 1, QCI’s first commercially available photonic EQC system, can solve business problems with more than 5000 variables, according to the company.

LOS ALAMOS, N.M. — UbiQD and SICPA SA expanded their partnership in the development of anti-counterfeit security inks based UbiQD’s quantum dot technology. The companies have been co-developing QD-based security features for the past six years. Having completed a number of technical milestones in a multiphased joint-development effort, UbiQD and SICPA are now expanding their partnership to commercialize several security applications based on the novel characteristics of UbiQD’s technology.

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A quantum dot ink solution emitting an orange glow under ultraviolet excitation. Courtesy of UbiQD Inc.

QUEBEC CITY — Airborne optical leak detection company Flyscan Systems secured $3.5 million in venture capital financing with strategic investor Hatchm, together with BDC Capital’s Cleantech Practice and Enbridge. The funding will enable Flyscan to support commercialization and scaling up its operations as it has entered commercial agreements with multiple energy companies in North America.

BALTIMORE — Northrop Grumman opened its Maryland Space Assembly and Test (MSAT) 2 facility at the company’s Baltimore campus. The 55,000-sq-ft facility provides a digitally integrated manufacturing, assembly, and test hub to support customer needs and the company’s growing space payload and ground systems capabilities.

ROANOKE, Va. — Luna Innovations Inc., a fiber optic-based technology company, inked a $14.2 million contract with long-standing partner Intuitive Surgical. The agreement provides for the supply of critical photonic subsystems manufactured by Luna and incorporated into Intuitive’s next-generation robotic surgical systems.

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Published: September 2022

Glossary

semiconductor: A semiconductor is a type of material that has electrical conductivity between that of a conductor and an insulator. In other words, semiconductors have properties that are intermediate between metals (good conductors of electricity) and insulators (poor conductors of electricity). The conductivity of a semiconductor can be controlled and modified by factors such as temperature, impurities, or an applied electric field. The most common semiconductors are crystalline solids, and they are...
lidar: Lidar, short for light detection and ranging, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of objects and surfaces. Lidar systems typically consist of a laser scanner, a GPS receiver, and an inertial measurement unit (IMU), all integrated into a single system. Here is how lidar works: Laser emission: A laser emits laser pulses, often in the form of rapid and repetitive laser...
virtual reality: Virtual reality (VR) is a computer-generated simulation of a three-dimensional environment or experience that can be interacted with and explored by an individual using electronic devices, such as a headset with a display. VR aims to create a sense of presence, immersing users in a computer-generated world that can be entirely fictional or a replication of the real world. It often involves the use of specialized hardware and software to provide a fully immersive and interactive experience. ...
metaverse: The term "metaverse" refers to a collective virtual shared space, created by the convergence of virtually enhanced physical reality and persistent virtual worlds. It is a concept derived from science fiction and popularized in literature, movies, and video games. In its essence, the metaverse represents a virtual universe where users can interact with each other and digital environments in real-time. Key characteristics of the metaverse include: Immersive virtual environments: The metaverse...
quantum: The term quantum refers to the fundamental unit or discrete amount of a physical quantity involved in interactions at the atomic and subatomic scales. It originates from quantum theory, a branch of physics that emerged in the early 20th century to explain phenomena observed on very small scales, where classical physics fails to provide accurate explanations. In the context of quantum theory, several key concepts are associated with the term quantum: Quantum mechanics: This is the branch of...

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