Koito

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 
 Cepton develops LiDAR sensor solutions for automotive, industrial, mapping, and internet of things (IoT)-based applications. Its products include automotive grade LiDAR hardware solutions 
 <a href="https://sp-edge.com/updates/25769">
 &ldquo;Ultra,&rdquo;
 </a>
 &ldquo;Vista-X,&rdquo; and &ldquo;Nova,&rdquo; and a LiDAR perception software solution, &ldquo;Helius,&rdquo; targeted at smart cities and smart spaces. It also offers a LiDAR simulation platform called 
 <a href="https://sp-edge.com/updates/29136">
 &ldquo;StudioViz.&rdquo;
 </a>
 
 
 The &ldquo;Vista-X90&rdquo;, &ldquo;Vista-X90 Plus,&rdquo; and 
 <a href="https://sp-edge.com/updates/15978">
 &ldquo;Vista-X120 Plus&rdquo;
 </a>
 models have a detection range of up to 200 meters and field of view (FoV) of 90 x 25 degrees; the &ldquo;Vista-X120&rdquo; 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&rsquo;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 &ldquo;MagnoSteer&rdquo; 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.&nbsp;
 
 
 <a href="https://sp-edge.com/updates/32047">
 In July 2024,
 </a>
 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' &ldquo;Ultra Cruise&rdquo; 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). 
 <a href="https://sp-edge.com/updates/14362">
 During Q3 2022,
 </a>
 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).&nbsp;
 
 
 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 
 <a href="https://sp-edge.com/updates/29366">
 (May 2024).
 </a>
 
</div>

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (ADAS/AV), smart cities, smart spaces and smart industrial applications. With its patented lidar technologies, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D perception solutions across industries.

In adverse weather or low-lighting conditions, self-driving and driver-assisted vision systems can’t provide a clear enough view of the road ahead. This limitation compromises safety as well as the business continuity of the entire automotive industry. Committed to our vision of driving clarity, we created VISDOM, a market-ready, all-weather automotive camera system. Powered by our proprietary GatedVision technology, VISDOM enables safe vehicle driving under any weather and light conditions, and in any road environment.

Koito engages in manufacturing and marketing of automotive lighting equipment, aircraft parts, electrical equipment, and other products.

<div> Koito engages in manufacturing and marketing of automotive lighting equipment, aircraft parts, electrical equipment, and other products. </div>

Cepton Signs Definitive Agreement to be Acquired by Koito

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 The LiDAR sensor manufacturer, Cepton, is set to be acquired by Japan's prominent automotive tier 1 supplier, Koito Manufacturing. The all-cash transaction pegs the shares at USD 3.17 each, with closing anticipated in Q1 2025. The deal, however, hinges on the approval of Cepton's shareholders, regulatory approval, and other standard closing conditions.
 This acquisition is set to supplement Koito's existing sensor technology roadmap and provide Cepton with financial stability and scaling opportunity for its LiDAR technology commercialization. Post the transaction, Cepton will function as a privately held indirect subsidiary under Koito in the United States.

</div> Analyst QuickTake: 
 Koito Manufacturing has been a long-term partner of Cepton, having collaborated since 2017. Recently, Cepton announced a USD 10 million <a href="https: 
//sp-edge.com/updates/29366"> engineering service agreement </a> with Kioto (May 2024) and signed a USD 100 million <a href="https: 
//sp-edge.com/updates/14078"> investment agreement </a> with Koito in convertible preferred stock (October 2022).

Koito

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless