According to TechCrunch, laser lidar startup Aeva has raised $200 million in funding from Hong Kong hedge fund Sylebra Capital.
Aeva was founded by two former Apple engineers and had raised $120 million in funding through an IPO, with investors including Adage Capital and Porsche Holding. Prior to Sylebra Capital’s investment, Aeva had total revenue of $363 million (including $243 million managed by InterPrivate).
According to Aeva co-founder and CEO, Soroush Salehian, the $200 million in funding will be used for R&D and to scale Aeva’s projects in key verticals such as automotive, consumer electronics, and industrial applications.
In terms of going public, Aeva avoided the traditional IPO route and went public through a SPAC (Special Purpose Acquisition Company). Previously, laser lidar companies Velodyne and Luminar had also gone public through SPAC mergers, while Ouster announced a merger with Colonnade Acquisition Corporation in December.🔗Source: TechCrunch
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