Cepton Technologies, Inc., a provider of intelligent, LiDAR-based solutions, announced it has raised over $50 million in Series C funding. This brings Cepton’s total funding to nearly $100 million, providing a strong foundation to substantially ramp up its R&D efforts, expand its footprint in the automotive market and support major customers worldwide.

The latest funding round was led by Koito Manufacturing Co., Ltd., the automotive Tier 1 and world-leading provider of automotive lighting systems, with an investment of $50 million. Existing investors in Cepton also participated in this round. As part of the transaction, Koito will obtain non-exclusive rights to manufacture and sell Cepton’s LiDAR sensor design for an automotive application, using key components supplied by Cepton.