Cepton

Cepton develops LiDAR sensor solutions for automotive, industrial, mapping, and internet of things (IoT)-based applications. Its products include automotive grade LiDAR hardware solutions “Ultra,” “Vista-X,” and “Nova,” and a LiDAR perception software solution, “Helius,” targeted at smart cities and smart spaces. It also offers a LiDAR simulation platform called “StudioViz.”

The “Vista-X90”, “Vista-X90 Plus,” and “Vista-X120 Plus” models have a detection range of up to 200 meters and field of view (FoV) of 90 x 25 degrees; the “Vista-X120” model has a detection range of up to 200 meters and FoV of 120 x 32 degrees; Nova LiDAR comes with a detection range of up to 40 meters and an FoV of 120 x 90 degrees. Cepton’s LiDAR uses micro-motion technology (MMT) for imaging, which the company claims to be reliable, versatile, efficient, and scalable. Ultra is a long-range compact LiDAR solution equipped with proprietary “MagnoSteer” technology, allowing it to achieve a detection range of 300 m and have a FoV of 120 x 25 degrees. MagnoSteer also facilitates the detection of low-reflectivity objects like dark cars.

Cepton has been listed on Nasdaq since February 2022, via a merger with a special purpose acquisition company (SPAC), which valued the combined entity at around USD 1.5 billion (August 2021). Cepton reported revenue of USD 13.1 million and an operating loss of USD 50.7 million in 2023. 

In July 2024, the company signed a definitive agreement to be acquired by Japan-based automotive tier 1 supplier Koito Manufacturing (expected to be closed by Q1 2025).

Key customers and partnerships

In July 2021, the company secured a LiDAR series production order supporting General Motors' “Ultra Cruise” hands-free automatic driver assist technology. This was the largest LiDAR series production order from General Motors as of February 2022. In addition, the company was selected by autonomous shuttle startup May Mobility to provide LiDAR for the latter's autonomous driving technology (2018). During Q3 2022, the company also added one new automotive program for in-vehicle LiDAR deployment with series production award secured till 2027. As of January 2022, the company had served 100+ customers. As of February 2024, Cepton was reportedly engaged with the top 10 global original equipment manufacturers (OEMs). 

Cepton also has a manufacturing partnership with Fabrinet, a provider of advanced precision optical and electronic manufacturing services (July 2022), and an engineering services agreement with automotive tier 1 partner Koito Manufacturing (May 2024).