Источник изображения: Aeva

Apple employees manage to develop a lidar suitable for use in cars

Apple tablets and smartphones of certain models have recently received a so-called lidar – an optical sensor that allows you to determine the distance to objects with high accuracy using laser radiation in the infrared spectrum. Founded by Apple natives, Aeva is poised to develop a lidar suitable for automotive applications.

Image source: Aeva

Image source: Aeva

As explained by Bloomberg, to obtain the necessary funding for its activities, Aeva combines partnerships with major automakers and a deal with a reverse takeover of a public company. Hong Kong investment fund Sylebra Capital Management will invest about $ 200 million in Aeva, and the acquisition of InterPrivate Acquisition Corp. will increase the investment amount to $ 563 million. Aeva’s current capitalization is estimated at about $ 3 billion. After the merger, the investment fund Sylebra will retain about 7% of Aeva’s shares.

InterPrivate shares were up 14% to $ 15.84 amid the news. The deal between the companies was announced at the beginning of November, since then the shares of the public participant in the deal have risen in price by 60%. The deal is expected to close in the first quarter of this year and will pave the way for Aeva to enter the stock market. Over the past few months, this is the fourth time a lidar developer has entered the market through the takeover of a public company.

The lidars being developed by Aeva, according to company representatives, are compact enough for use in both cars and mobile devices, as well as medical equipment. At the moment, Aeva’s investors are the brands Porsche and Audi, as well as some participants in the freight transport market. German auto parts manufacturer ZF intends to use Aeva’s developments for integration into production vehicles. Aeva expects to receive revenue from the sale of serial products from 2024.

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