LiDAR Detects Merger Between Cepton and Growth Capital Acquisition Corp. (NASDAQ: GCAC) Drawing Near
Six LiDAR companies have gone public since 2020, raising $3.6+ billion as investors look for exposure to autonomous vehicles market Cepton is merging with Growth Capital Acquisition Corp GCAC in the coming weeks in a deal valuing Cepton at $1.55 billion, with $231 million in pro forma cash on its balance sheet Cepton has worked with the world’s biggest automotive OEMs, including General Motors and Ford, and garnered a $50 million investment for Japan’s Koito Manufacturing As the race to fully autonomous vehicles (“AVs”) heats up, one particularly important pocket of the AV and advanced driver assistance systems (“ADAS”) markets…