Case Study: Hybrid Lidar Systems

Success Story:
Hybrid Lidar Systems

Hybrid Lidar Systems AG is at the forefront of the technological revolution in autonomous driving. As a pioneer in the development of a new generation of Lidar sensors, the company offers innovative solutions for OEMs, the automotive industry, and other industrial sectors. Its groundbreaking products are crucial for enabling vehicles to see and understand their surroundings. Hybrid Lidar Systems develops and distributes high-resolution Lidar sensors for autonomous vehicles, including cars, trucks, last-mile delivery, logistics, robotics, and drones.

Industry:

Challenge

Developing and scaling a hardware startup is a complex task that requires significant financial resources and continuous capital infusion. Hybrid Lidar Systems AG faced the specific challenge of attracting investors willing to invest in the long-term development cycles of hardware technologies. Another obstacle was the need to manage controlling, reporting, working capital, and financial planning without binding resources for a full-time CFO.

Implementation

NumberSquare was engaged as Fractional CFO and has been supporting Hybrid Lidar Systems AG for over four years. Crucial to the company was tailored financial consulting, allowing the client to focus on its core competencies while NumberSquare took on financial tasks. We developed an integrated financial plan, created a compelling pitch deck, and optimized the investor story. Our approach included diversifying revenue sources by tapping into new industrial applications and expanding the product portfolio to include far-field and near-field sensors in the automotive sector. Through cap table simulations, company valuations, controlling and reporting optimization, we assisted the company in approaching new investors, preparing for pitches, and guiding due diligence processes. Additionally, we provided operational support for daily financial tasks and successfully implemented cost-cutting measures. As a financing milestone, we secured grants from the European Innovation Council (EIC), which played a crucial role in the company's growth phase. We also secured participation for Hybrid Lidar in various accelerator programs, such as the PwC Accelerator, the EIT Urban Mobility Accelerator of the European Union, the Hello Tomorrow Deep Tech Accelerator, and the Arrow Innovation Awards.

Success

Durch unsere umfassende Unterstu?tzung konnten wir fu?r Hybrid Lidar Systems AG diverse Erfolge erzielen: Eine Kapitalaufnahme von 1 Million ? von Angel-Investoren und 4,6 Millionen ? an Fo?rdermitteln vom EIC. Unsere Arbeit entlastete das Management signifikant und bot ihm Sicherheit bei strategischen Entscheidungen, wa?hrend wir gleichzeitig Transparenz u?ber die Gescha?ftszahlen und das operative Gescha?ft herstellten. Durch die Einfu?hrung eines virtuellen Mitarbeiterbeteiligungsprogramms (VSOP), konnte das Unternehmen Kernmitarbeiter sta?rker binden und ihr Wachstum sichern. Durch diverse Accelerator-Programme und Investor Relations konnten wir fu?r das Hardware Startup entscheidende Kontakte zu fu?hrenden Investoren in der Branche herstellen.

Our partnership with NumberSquare plays a central role in our success. Their expertise, advice and operational support have significantly advanced our company progress in recent years. Their profound understanding in finance as well as complex engineering matters is a crucial factor for successful collaboration with the technical team. I recommend Evgenij Bakulin and the NumberSquare team to any hardware startup looking to set its finances and strategy on a path to success.

– Ingo Dietterle, CEO Hybrid Lidar Systems AG