In the past two years when capital costs were low, Cepton and other lidar companies went public through special purpose acquisition companies.However Federal Reserve Rate Hike Geopolitical tensions are also slowing the flow of capital to automotive tech start-ups.new investment in Mobility tech startup went down In the third quarter of 2022, it is up 79% year-over-year, according to financial services firm PitchBook.
Cepton CEO and co-founder Jun said, “There was a big economic expansion in the last few years, so everyone was in a frenzy. It changed the mindset of investors.”Pei said car news“And they really see the value you’re creating in your business operations.
Lidar companies have struggled over the past two years. Merger of Ouster and Velodyne. AEye, a lidar company The company, backed by financial services giant Kantar Fitzgerald, saw its valuation drop 25% from $2 billion to $1.5 billion after it merged with Kantar Special Purpose Acquisitions last year.
Founded in 2016, Cepton won a contract from GM to supply advanced driver assistance systems to automakers in 2021. With this deal, Cepton is expected to earn his $250 million. Japanese lighting supplier Koito, an early investor in Cepton, has licensed the company’s technology for installation in GM vehicles. Koito has the technology and manufacturing capabilities to install Septon’s lidar technology, which looks like a square with two lights embedded in the headlight.
Cepton will showcase the lidar-equipped Ford F-150 at CES. This is the first time for Koito Manufacturing to show the public a headlamp equipped with Cepton’s lidar technology. But the demonstration does not imply a Septon deal with Ford, Pei said.
Cepton is in talks with automakers about 2023, but nothing has been finalized, Pei said.
“We believe we will stand out in this industry, ultimately deliver value to investors and have a real impact on stock performance over the long term,” said Pei. “I’m not too upset by the current market volatility.”
https://www.autonews.com/ces/2023-ces-lidar-tech-ready-closeup 2023 CES: lidar tech ready for close-ups