Quanergy raises 90 million for self-driving car sensors

Quanergy Systems, a company that makes light detection and ranging sensors used in self-driving cars, has raised 90 million dollar (80 million euros) from investors. According to the company this illutrates their growing interest in autonomous vehicle technology.

Sensata Technologies, Delphi Automotive, Samsung Ventures, Motus Ventures and GP Capital participated
in the round. This investment brings the company’s total funds raised to approximately 150 million dollar.

LiDAR sensors

Quanergy wants to use the investment and leverage its substantial intellectual property to work with its partners in ramping up the production of its solid state LiDAR sensors. These sensors use standard semiconductor manufacturing processes and have no moving parts on a macro scale or a micro scale. According to Quanergy this leads to lower cost and better performance compared to traditional mechanical sensors.