Cepton, Inc. (NASDAQ: CPTN) Receives Letter of Intent for Up to $100 Million Investment from Strategic Investor; Lidar Technology’s Total Addressable Market Projected to Expand Exponentially
Cepton received a letter of intent from Koito for an investment of up to $100 million to help fund Cepton’s next stage of growth as it scales for mass market deploymentLidar technology within urban settings is becoming increasingly ubiquitous across automotive (i.e., assisted driving & autonomous vehicles) and smart infrastructureSince being the recipient of the largest known ADAS contract from an automotive manufacturer within the lidar space, Cepton maintains a major frontrunner Cepton’s (NASDAQ: CPTN) long-term automotive Tier 1 partner, Koito Manufacturing Co., Ltd. recently revealed that it had provided Cepton with a Letter of Intent representing an investment of…