Cepton Technologies, a provider of intelligent, lidar-based solutions for a range of markets, including autonomous driving, ADAS, smart traffic systems, security, crowd analytics, and industrial robotics, raised over $50 million in Series C funding.
Koito Manufacturing led the funding round, with participation from existing investors. The Series C round brings the company’s total funding to date to nearly $100 million.
Cepton Technologies plans to use the new funds to ramp up its R&D efforts and expand its footprint in the automotive market. The company will also use the latest funds to accelerate the development and deployment of its advanced lidar technology in advanced driver assistance systems applications, autonomous vehicle applications, and markets such as smart cities / intelligent transportation systems (ITS) and security.
“Since Cepton was founded in 2016, we have made great strides in advancing the state-of-the-art in lidar technology and bringing the benefits of lidar-based solutions to a variety of markets,” said Dr. Jun Pei, co-founder and CEO of Cepton.
“With this latest investment round, the year 2020 is poised to be truly transformational for Cepton’s future, and we are excited to welcome Koito not just as an investor but also as a technology and manufacturing partner.”