Cepton, Inc. (NASDAQ: CPTN) Furthers Tier 1 Collaboration, Aims to Make Lidar a Standard Feature in Transportation

• CPTN produces near-range to ultra-long-range lidar sensors, perception solutions, and software for leading OEM manufacturers across the automotive and smart infrastructure markets
• Cepton aims to make lidar standard in every vehicle to enable safe assisted driving and autonomy
• CPTN’s collaboration with Japan-based Koito Manufacturing Co. Ltd. led to ADAS lidar series production award from General Motors
• Cepton lidar sensors to be used in upcoming GM models featuring its Ultra Cruise advanced driver-assist system starting next year

Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance MMT(R) lidar solutions, aims to make its proprietary technology standard in all consumer vehicles to support safe and autonomous driving capabilities. 

Lidar, an acronym for light detection and ranging, uses lasers to scan environments by emitting light to target objects or surfaces and measuring the time it takes for the reflected light to come back to the receiver. The lidar system can then convert the time it takes into a precise measurement of distance between the source and the object or surface. Using multiple lasers, lidar systems can create 3D representations with applications that include measuring the Earth’s surface and ocean floor or helping to enable autonomous vehicles, Advanced Driver-Assistance Systems (“ADAS”), and various smart applications in cities and industrial spaces.

Cepton offers a comprehensive suite of near-range to ultra-long-range lidar sensors, perception solutions, and software. The company’s patented Micro Motion Technology (MMT(R)) offers a mirrorless, rotation-free, and frictionless 3D lidar imaging method, enhanced by proprietary micro-optical modules and integrated custom Application-Specific Integrated Circuits (“ASICs”) that offer state-of-the-art illumination control and detection (https://ibn.fm/I6Yvs).

CPTN’s technology enables seamless high-volume manufacturing in collaboration with leading Tier 1s. Japan-based Koito Manufacturing Co. Ltd. – the World’s premier Tier 1 auto lighting supplier – invested $50 million through a Series C round in 2020 to support Cepton’s R&D efforts. The collaboration between the two companies resulted in them being awarded the largest ADAS lidar series production award from General Motors, where Cepton lidar sensors will be used in upcoming GM models featuring its new Ultra Cruise advanced driver-assist system (https://ibn.fm/MCv2Y).

“We thought ADAS in the near future would be the biggest market for lidar, and that’s why we focused all of our company efforts – whether it’s in technology invention or commercial development – into the ADAS industry,” said CPTN CEO and Co-Founder Dr. Jun Pei in a recent interview with the Financial Times (https://ibn.fm/rgSPP).

Koito subsequently invested an additional $50 million via a Private Investment in Public Equity (“PIPE”) transaction in 2021 to support Cepton’s proposed merger. Ties between CPTN and Koito deepened further on June 27, 2022, where both companies jointly announced their intention to expand their existing collaboration efforts to include select future Cepton lidar products and further go-to-market activities.

“I am pleased to expand our collaboration beyond the current lidar product for the series production OEM. Koito’s expertise in large-scale manufacturing combined with Cepton’s technological innovation will enable both companies to thrive and allow automotive OEM customers to accelerate lidar adoption and shorten time-to-market for their ADAS offerings,” said Mr. Michiaki Kato, Koito’s President. 

Since its inception in 2016, Cepton has rapidly advanced lidar research and innovation, which helped the company win the GM ADAS lidar series award shortly after. As a leading innovator of lidar-based solutions for ADAS, AV, and numerous smart applications, Cepton aims to take its patented Micro Motion Technology (MMT(R)) mainstream, enabling scalable and intelligent 3D perception solutions across multiple major global markets. 

For more information, visit the company’s website at www.Cepton.com. 

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

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