What does Quanergy Systems do?
Quanergy Systems, is the leading provider of solid state LiDAR sensor and smart sensing solutions. The company offers LiDAR sensors and software for capturing and processing real time 3D mapping data. The data will be used for hugely improving the reliability and accuracy of on-board drives safety systems and enhancing them with scenario analysis capability and object recognition, and also for enabling autonomous driving in the future. The company has established early partnerships with digital map makers and global automotive companies and will be expanding its market presence following introduction of the Mark VIII.
How much Quanergy Systems was funded?
Quanergy Systems raised $90M in Series B on August 22, 2016 from Alrai Capital, Motus Ventures, GP Capital, Delphi Automotive PLC, Samsung Ventures and Sensata Technologies.
$809k in undisclosed round on December 4, 2013
$4.5M in undisclosed round on May 16, 2014 from Wardenclyffe Partners, Motus Ventures, Newbury Ventures, TEEC Angel Fund and Samsung Ventures.
$30M in Series A on December 18, 2014: fromRising Tide, Motus Ventures, Wicklow Capital and Wardenclyffe Partners
What is next for Quanergy Systems?
The company plans to use the latest funding raised and leveraging its substantial intellectual property for working with its partners in boosting up the production of its solid state LiDAR sensors. The company will continue the global expansion and scale its infrastructure and operations for meeting the increasing demand for autonomy for saving lives, saving time, saving space and saving costs. The funding will provide the company a chance to accelerate its development, expand its world class engineering team and scale faster.
More about Quanergy Systems
Quanergy Systems was founded on November 1, 2012 by Louay Eldada. It has its headquarters in Sunnyvale, California. This is the 1st and only company to develop a low cost, compact, automotive grade solid state LiDAR sensor.