23 Aug '16, 9am

Solid-state LiDAR company @Quanergy raises $90M in Series B; valuation passes $1B

Solid-state LiDAR company @Quanergy raises $90M in Series B; valuation passes $1B

Solid-state LiDAR company Quanergy raises $90M in Series B; valuation passes $1B 23 August 2016 Quanergy Systems, Inc., a leading provider of solid-state LiDAR sensors and smart sensing solutions (earlier post ), raised $90 million in Series B funding at a valuation well over $1 billion. Sensata Technologies, Delphi Automotive, Samsung Ventures, Motus Ventures and GP Capital participated in the round. This investment brings the company’s total funds raised to approximately $150 million. Quanergy intends to use the investment and leverage its intellectual property to work with its partners in ramping up the production of its solid-state LiDAR sensors. These sensors use standard semiconductor manufacturing processes and have no moving parts on a macro scale or a micro scale, offering significantly lower cost, higher reliability, superior performance, increased capability, sm...

Full article: http://www.greencarcongress.com/2016/08/20160823-quanergy...

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