Self-driving car start-up raises major investment

Quanergy Systems, which makes solid state LiDAR sensors and smart sensing solutions used in self-driving cars, has raised US$90 million from investors including Sensata Technologies, Delphi Automotive, Samsung Ventures, Motus Ventures and GP Capital. Since launching in 2012, Quanergy has developed a compact, low-cost, automotive grade solid state LiDAR sensor, the S3 solid state LiDAR and is aggressively working to commercialise these sensors for advanced driver assistance systems (ADAS) and autonomous d
August 24, 2016 Read time: 2 mins
Quanergy Systems, which makes solid state LiDAR sensors and smart sensing solutions used in self-driving cars, has raised US$90 million from investors including Sensata Technologies, Delphi Automotive, Samsung Ventures, Motus Ventures and GP Capital.

Since launching in 2012, Quanergy has developed a compact, low-cost, automotive grade solid state LiDAR sensor, the S3 solid state LiDAR and is aggressively working to commercialise these sensors for advanced driver assistance systems (ADAS) and autonomous driving applications. It currently has pre-production contracts with multiple global customers for the sensors.

LiDAR sensors, as well as sensing systems that benefit from its advanced artificial intelligence perception software, are key to improved safety and efficiency in industries ranging from transportation and security to industrial automation and 3D terrestrial and aerial mapping.

Quanergy intends to use the investment and leverage its intellectual property to work with its partners in ramping up the production of its sensors. It will continue the global expansion of the company and scale its operations and infrastructure to meet the growing demand for autonomy in vehicles and other systems that can benefit from increased levels of automation to save lives, save space, save time, save energy and save costs. According to industry experts, the LiDAR market is expected to exceed US$1 billion by 2020 and US$3 billion by 2022.
Location Based Systems

Related Content

  • Smart railways market ‘worth US$13.77 billion by 2020’
    January 15, 2016
    According to new market research report by MarketsandMarkets, the smart railway market is predicted to grow from US$5.34 Billion in 2015 to US$13.77 Billion by 2020, at a CAGR of 20.8 per cent over the period. The smart railways concept includes the combination of advanced solutions and services of intelligent transportation with the information and communication technology. It facilitates the smart use of rail assets, from tracks to trains which will enable companies to meet the increasing consumer dema
    Read More
  • Machine vision - cameras for intelligent traffic management
    January 25, 2012
    For some, machine vision is the coming technology. For others, it’s already here. Although it remains a relative newcomer to the ITS sector, its effects look set to be profound and far-reaching. Encapsulating in just a few short words the distinguishing features of complex technologies and their operating concepts can sometimes be difficult. Often, it is the most subtle of nuances which are both the most important and yet also the most easily lost. Happily, in the case of machine vision this isn’t the case:
    Read More
  • Daimler’s double take sees machine vision move in-vehicle
    December 13, 2013
    Jason Barnes looks at Daimler’s Intelligent Drive programme to consider how machine vision has advanced the state of the art of vision-based in-vehicle systems. Traditionally, radar was the in-vehicle Driver Assistance System (DAS) technology of choice, particularly for applications such as adaptive cruise control and pre-crash warning generation. Although vision-based technology has made greater inroads more recently, it is not a case of ‘one sensor wins’. Radar and vision are complementary and redundancy
    Read More
  • Industry collaboration ‘the key to avoiding autonomous driving traffic congestion’
    July 19, 2016
    A joint whitepaper published by Here and SBD argues that new levels of vehicle automation will increase traffic congestion in the foreseeable future and it's up to the automotive industry to enhance its collaboration in order to create a seamless transition as we reach these new levels of automation. According to co-author of the study, Andrew Hart, director at SBD, autonomous cars have the potential in the long-term to revolutionise mobility and radically improve the safety of our roads. However, the pa
    Read More

Highlighted Content