LIDAR-Lite: A New Benchmark for Optical Distance Measurement Sensors

I'm very interested in this technology (and somewhat skeptical about it). The website is very opaque on how it actually works, and "signature correlation" doesn't appear to be a well-known term (http://scholar.google.ru/scholar?q=signature+correlation+lid...). It also appears to not be based on time-of-flight measurement.

It's also not clear for me how are they going to make a production run within 2 months (funding ends with Feb, shipping in May), much less so for a project which includes an ASIC.