Quanergy Raises $90 Million


Quanergy Systems, a Silicon Valley startup that makes light detection and ranging sensors used in self-driving cars, has raised $90 million from investors, illustrating their growing interest in autonomous vehicle technology.

The funding round, led by Sensata Technologies, also included investments from auto parts manufacturer Delphi Automotive, Samsung Ventures, Motus Ventures, and GP Capital. Quanergy’s post-funding valuation is $1.59 billion, CEO Louay Eldada told Fortune.

This investment brings the company’s total funds raised to about $150 million.

Read the rest of the Fortune article here.