Cepton Technologies, Inc., a San Jose, CA-based provider of intelligent, lidar-based solutions, raised over $50m in Series C funding.
The round, which brings Cepton’s total funding to nearly $100m, was led by Koito Manufacturing Co., Ltd. (TYO:7276), with participation from existing investors. As part of the transaction, Koito will obtain non-exclusive rights to manufacture and sell Cepton’s lidar sensor design for an automotive application, using key components supplied by Cepton.
The company intends to use the funds to accelerate development and deployment of its advanced lidar technology in ADAS applications, in autonomous vehicle applications, as well as in other markets such as smart cities / intelligent transportation systems (ITS) and security.
Founded in 2016 by Dr. Jun Pei, CEO, Cepton provides intelligent, lidar-based solutions for a range of markets such as autonomous driving, ADAS, intelligent traffic systems, security, crowd analytics, and industrial robotics. Its patented MMT™-based lidar technology enables solutions that deliver long range, high resolution 3D perception for smart applications. The company also has registered offices in Germany, Canada and UK and a global customer base.