Cepton, Inc. (NASDAQ: CPTN) to Solidify Its Financial Position With $100 Million Investment from Koito; Forges Ahead Toward Mass-Market Deployment of Its Lidar Technology
Cepton signed binding agreement with established automotive lighting tier 1 supplier Koito for investment of $100 million to bolster its next stage of growthAgreement penned on October 27, 2022, marks the third investment from this long-term automotive Tier 1 partner and existing shareholder since 2020Lidar market expected to grow rapidly to reach $59 billion by 2030; Cepton appears to continue leading as a prominent figure, as it works toward commercialization and mass market deployment of its lidar sensors Following a previously reported letter of intent from Koito Manufacturing Co., Ltd. (TSE:7276), Cepton (NASDAQ: CPTN) has announced that it has entered…