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Cepton, Inc. Announces Closing Of $100 Million Investment From Koito Manufacturing
01/20/23, 2:03 PM
Location
san joseMoney raised
$100 million
Industry
information technology
Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions, announced today the completion of its previously announced $100 million investment (the “Investment”) from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. (“Koito”) (TSE: 7276) on January 19, 2023. The Investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton stockholders on January 11, 2023, and is convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s common stock at an initial conversion price of $2.585 per share.
Company Info
Location
san jose, california, united states
Additional Info
Cepton is a Silicon Valley innovator providing LiDAR-based solutions for automotive (ADAS/AV), smart city, smart space and smart industry applications. Based on the company's patented LiDAR technology, Cepton is focused on mass-producing LiDAR, delivering a balanced approach of performance, cost and reliability while providing scalable, intelligent 3D shape perception solutions across all industries. Founded in 2016, Cepton is led by industry veterans with decades of experience across a wide range of advanced LiDAR and imaging technologies, and is focused on commercializing high performance, high quality LiDAR solutions at scale. Headquartered in San Jose, California, Cepton operates a Center of Excellence facility in Troy, Michigan, providing local support to automotive customers in the Detroit metropolitan area. The company also has a presence in Germany serving European customers.
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