The lidar company, started by two former Apple engineers, has raised an additional $200 million in private investment from Hong Kong hedge fund Sylebra Capital ahead of its debut as a publicly traded company.
The Mountain View, California-based startup announced in fall 2020 that it was merging with special purpose acquisition company InterPrivate Acquisition Corp., with a post-deal market valuation of $2.1 billion. The new investment from Sylebra, which is a current holder of InterPrivate common stock, brings the total gross proceeds it will have once it begins trading to more than $560 million, according to the company.
  • TechCrunch
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  • Originally published January 4, 2021