NetworkNewsBreaks – Cepton Inc. (NASDAQ: CPTN) W
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Posted On: 12/14/2022 4:08:57 PM
NetworkNewsBreaks – Cepton Inc. (NASDAQ: CPTN) Well Funded to Scale Lidar Technology for Mass Deployment
Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, recently entered into a binding agreement for a $100 million investment from Koito Manufacturing Co., Ltd., its long-term automotive tier 1 partner and current shareholder. Cepton “intends to use this investment – Koito’s third since 2020 – to fund the company’s next growth stage as it looks to execute its vision to scale lidar technology for mass deployment… Cepton and Koito have had an established history of collaboration, including one that has been crowned with notable success, such as a significant ADAS lidar series production award on the General Motors business,” a recent article reads. “We are excited to further strengthen our partnership with Koito and remain deeply grateful for Koito’s continued support. This investment solidifies Cepton’s financial position and allows us to continue our execution excellence as we focus on commercialization and mass-market deployment of our lidar sensors,” Dr. Jun Pei, Cepton’s co-founder and CEO, is quoted as saying.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, recently entered into a binding agreement for a $100 million investment from Koito Manufacturing Co., Ltd., its long-term automotive tier 1 partner and current shareholder. Cepton “intends to use this investment – Koito’s third since 2020 – to fund the company’s next growth stage as it looks to execute its vision to scale lidar technology for mass deployment… Cepton and Koito have had an established history of collaboration, including one that has been crowned with notable success, such as a significant ADAS lidar series production award on the General Motors business,” a recent article reads. “We are excited to further strengthen our partnership with Koito and remain deeply grateful for Koito’s continued support. This investment solidifies Cepton’s financial position and allows us to continue our execution excellence as we focus on commercialization and mass-market deployment of our lidar sensors,” Dr. Jun Pei, Cepton’s co-founder and CEO, is quoted as saying.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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