Luminar Targets $22 Million Sale of Its Lidar Business to Quantum Computing Inc
Luminar plans to sell its lidar business for $22 million to Quantum Computing Inc. but seeks better offers by Monday’s deadline.
Luminar makes lidar sensors, which help cars see the road. The company filed for Chapter 11 bankruptcy last December. It is also selling its semiconductor part to Quantum Computing Inc. for $110 million. A judge must approve both sales before they happen.
Austin Russell, the founder of Luminar, is interested in buying the lidar part. He tried to buy the whole company before Luminar went bankrupt. Now, Luminar wants to know more information from him because of a board investigation that led to his resignation last May. It’s unclear how many other offers Luminar might get by the deadline.
Quantum Computing Inc. is called a “stalking horse bidder.” This means it helps set a starting price for the assets to avoid low bids. Luminar wants to finish its bankruptcy case quickly because its biggest creditors are helping with funds.
Even with any new offers, Luminar’s $22 million deal is a huge drop from its peak value of about $11 billion in 2021. Back then, major car companies like Volvo wanted to use Luminar’s lidar sensors a lot, but the deals did not happen.
Quantum Computing Inc. started in 2001 as a company selling printer cartridges. It later changed to focus on making technology for quantum computing. The company raised over $700 million by selling shares in 2025, but its revenue last year was just $384,000.