Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions, has announced that its long-term automotive Tier 1 partner Koito Manufacturing will make a $100 million investment into the company.

Cepton says that the investment will be used to fund its next stage of growth as it scales lidar solutions for mass deployment. Cepton and Koito have a strong history of collaboration and this new investment marks Koito’s third investment into Cepton since 2020.

Cepton Co-Founder and CEO Dr. Jun Pei stated:: \“We are excited to further strengthen our partnership with Koito and remain deeply grateful for Koito’s continued support. This investment solidifies Cepton’s financial position, and allows us to continue our execution excellence as we focus on commercialization and mass market deployment of our lidar sensors.”

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive and smart industrial applications. With its patented lidar technology, Cepton has been awarded a significant lidar series production contract with Koito on the General Motors business. Cepton is also engaged with the top 10 global original equipment manufacturers.

Shares of Cepton trade on the NASDAQ under the symbol CPTN.