Quanergy, a leading self-driving technology company, is reportedly on the verge of becoming the first in its field to go public through an Initial Public Offering (IPO). According to insiders, the company has been in discussions with major banks about its listing strategy and aims for an IPO in 2018. However, Quanergy has not confirmed this report publicly. The company specializes in LiDAR technology, a crucial component for autonomous vehicles that enables real-time 3D mapping of surroundings using laser scanning. Most self-driving cars require two or more LiDAR sensors to function effectively.
As autonomous vehicle development accelerates, interest in related technologies continues to grow. Tech giants like Apple and automotive leaders such as Tesla and Volkswagen are investing heavily in automated driving systems. In July, Audi launched the A8, its first production model equipped with a built-in LiDAR sensing system, marking a significant step forward in the industry.
In terms of funding, Quanergy has raised over $134.5 million so far, including investments from major players like Delphi, Samsung, and Sensata. Notably, Russian billionaire Alisher Usmanov also took a stake in the company in April, following previous investments in Facebook and Alibaba. Quanergy has established strong partnerships with leading automakers and suppliers, including Daimler, Renault-Nissan, Hyundai, Delphi, and Sensata.
Dr. Louay Eldada, CEO and co-founder of Quanergy, has played a pivotal role in the company's growth. With a Ph.D. in Optical Engineering from Columbia University, he is a seasoned entrepreneur who has founded three successful companies before Quanergy. His background includes key roles at SunEdison, HelioVolt, and Telephotonics, where he contributed significantly to innovation in optics and sensor technology. Quanergy’s recent B-round financing valued the company at around $1.58 billion.
Quanergy currently offers a range of LiDAR products, including the M8, S3, and S3-Qi. The S3 is the world's first solid-state LiDAR, utilizing optical phased array technology to eliminate moving parts, reduce size, and improve reliability. It is expected to cost under $250 when mass-produced. The S3-Qi is a compact version, designed for use in drones, smart robots, and home automation, with a projected cost of less than $100.
Additionally, Quanergy has developed Q-Guard, a security solution based on LiDAR technology. This system uses 3D point clouds and color video to detect and track intrusions in real time. Q-Guard's multi-LiDAR Fusionâ„¢ technology allows it to combine data from multiple sensors, making it highly effective in complex environments. The product was nominated for the 2017 ASTORS Homeland Security Award, highlighting its innovative approach to security.
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