A Lidar Technology Startup Named Aeva Received 200 Million in Funding
Daniel Johnson — January 7, 2021 — Autos
References: aeva.ai & techcrunch
Aeva, a Lidar technology company based out of California, recently raised $200 million in private investment from Sylebra Capital right before it will launch as a publicly-traded company.
Aeva will be going public as part of a merger with InterPrivate Acquisition Corp., a special purpose acquisition company. Sylebra Capital is a hedge fund located in Hong Kong and is also a holder of preferred stock from InterPrivate Acquisition Corp.
Aeva is a Lidar technology company that specializes in 4D lidar which has the ability to measure distance and velocity while not losing range. The 4D lidar system is also able to operate while differentiating information from sensors versus environmental forces like the sun.
“We’ve seen an increase in customer interest for our unique 4D lidar technology across all of these areas in the past few months and the additional resources will allow us to address this increased demand faster,” said Soroush Salehian, the co-founder and CEO of Aeva.
Image Credit: Aeva
Aeva will be going public as part of a merger with InterPrivate Acquisition Corp., a special purpose acquisition company. Sylebra Capital is a hedge fund located in Hong Kong and is also a holder of preferred stock from InterPrivate Acquisition Corp.
Aeva is a Lidar technology company that specializes in 4D lidar which has the ability to measure distance and velocity while not losing range. The 4D lidar system is also able to operate while differentiating information from sensors versus environmental forces like the sun.
“We’ve seen an increase in customer interest for our unique 4D lidar technology across all of these areas in the past few months and the additional resources will allow us to address this increased demand faster,” said Soroush Salehian, the co-founder and CEO of Aeva.
Image Credit: Aeva
Trend Themes
1. Corporate Investment in Lidar Technology - Private investment in lidar technology startups like Aeva shows a growing trend in corporate interest in this emerging technology.
2. Growth of 4D Lidar Technology - Aeva's focus on 4D lidar technology highlights the growing trend towards more advanced and specialized lidar systems.
3. Special Purpose Acquisition Companies in High-tech Industries - The use of special purpose acquisition companies to take high-tech startups like Aeva public is a trend in the finance industry.
Industry Implications
1. Autonomous Vehicles - Lidar technology is an essential component of autonomous vehicle development and investment in this technology will continue to disrupt the auto industry.
2. Environmental Sensing and Monitoring - 4D lidar technology is uniquely suited for environmental sensing and could disrupt industries like construction and infrastructure development.
3. Finance and Investment - The use of SPACs as a means of taking high-tech startups public could disrupt traditional IPOs and be a game-changer in the finance industry.
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