San Francisco – September 16, 2016 – Cooley advised Quanergy Systems, Inc. on its $90 million Series B financing, which included participation from Sensata Technologies, Delphi Automotive, Samsung Ventures, Motus Ventures and GP Capital. The company is now valued at more than $1 billion.
According to the company’s press release, Quanergy intends to use the investment to ramp up production of its solid state LiDAR (Light Detection and Ranging) sensors.
“Innovation in LiDAR technology represents one of the largest opportunities unfolding around the globe, and this infusion of funding will enable us to accelerate development, scale faster and expand our world-class engineering team,” said Dr. Louay Eldada, Quanergy CEO.
Quanergy provides LiDAR sensors and smart sensing solutions.
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