Cepton Technologies, Inc. raised more than $50 million in Series C funding for its state-of-the-art, intelligent, lidar-based automotive lighting systems.
This latest funding round was backed by Koito Manufacturing Co., an automotive Tier 1 and leading provider of automotive lighting systems. Cepton’s total funding to date is now $100 million.
Cepton uses its unique and patented Micro Motion Technology to enable a mirrorless, frictionless and rotation-free lidar solution to increase the reliability and manufacturablity of the product, while delivering cost-effective high performance.
Cepton will use the new funding to accelerate development and distribution of its lidar technology in ADAS applications, autonomous vehicle applications and other fast-growing markets like smart cities, intelligent transportation systems, and security. It also plans to ramp up its R&D efforts, footprint in the automotive market and support its customers worldwide.
providing a strong foundation to substantially ramp up its R&D efforts, expand its footprint in the automotive market and support major customers worldwide.
As part of the agreement struck with Koito, the investor will obtain non-exclusive rights to manufacture and sell Cepton’s lidar sensor design for an automotive application, using key components supplied by Cepton.