Quanergy Systems, Inc., a Sunnyvale, CA-based provider of solid state LiDAR sensors and smart sensing solutions, raised $90m in Series B funding.
The round brought the valuation of the company well over $1 billion.
Backers included Sensata Technologies (NYSE:ST), Delphi Automotive (NYSE:DLPH), Samsung Ventures, Motus Ventures and GP Capital.
The company, which has raised approximately $150m to date, intends to use the funds to ramp up the production of its solid state LiDAR sensors.
Led by Dr. Louay Eldada, CEO, Quanergy offers solid state LiDAR sensors and software for real-time capture and processing of high-definition 3D mapping data and object detection, tracking, and classification.
Application areas include transportation, security, mapping and industrial automation.
The company is now working to commercialize its sensors for advanced driver assistance systems (ADAS) and autonomous driving applications.