Ford, Baidu bet 150M on Velodyne laser radar

Velodyne, a Silicon Valley company that makes laser radar - a critical component in self-driving cars - landed 150 million from Ford and Chinese search giant Baidu. SAN FRANCISCO – Velodyne, a Silicon Valley company that makes a critical component for self-driving cars, has raised 150 million from two companies racing to put autonomous cars on the road. Ford Motor Company and Chinese search engine Baidu are co-leads in the round, Velodyne announced Tuesday. Velodyne's puck-shaped Lidar, or laser radar, devices take the place of human eyes by relaying terrain information to on-board computers. The investment comes as competition heats up between automakers and tech companies looking to gain an early lead in the evolving transportation revolution.