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 deployment Lidar technology within urban settings is becoming increasingly ubiquitous across automotive (i.e., assisted driving & autonomous vehicles) and smart infrastructure Since 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…