Aeva - IPV (SPAC)

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letta75
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Aeva - IPV (SPAC)

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SPAC waar ik al een tijdje inzit en die ik met oog op LT-positie in port zal houden.

Aeva makes SPAC deal to scale up production of 4D lidar on a chip for self-driving cars


Special purpose acquisition company InterPrivate Acquisition Corp. yesterday announced that it has entered into a definitive agreement for a business combination with lidar maker Aeva. Mountain View, Calif.-based Aeva claims to be the first company to provide a perception platform built from the ground up on silicon photonics for mass-scale application in automotive, consumer electronics, and other sectors.

Soroush Salehian and Mina Rezk, former engineering leaders at Apple and Nikon, founded Aeva in 2017. The company said it is building the next generation of sensing and perception for autonomous vehicles and beyond. Aeva has a multidisciplinary team of more 100 experienced leaders, engineers, and operators, It said it is actively engaged with 30 of the top players in automated and autonomous driving across passenger, trucking, and mobility.

InterPrivate is a blank-check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The special purpose acquisition company (SPAC) is controlled by affiliates of Chairman and CEO Ahmed M. Fattouh and InterPrivate LLC, a firm founded by Fattouh that invests on behalf of a consortium of family offices in partnership with independent sponsors from the private equity and venture capital industries.

Aeva offers 4D lidar on a chip

Aeva said its 4D LiDAR on Chip combines instant velocity measurements and long-range performance at affordable costs for commercialization at silicon scale.

With its software stack, Aeva plans to scale its perception platform to a range of industries beyond automotive, including consumer electronics, consumer health, industrial robotics, and security.

Unlike legacy lidar, which relies on time-of-flight (ToF) technology and measures only depth and reflectivity, Aeva uses frequency modulated continuous wave (FMCW) technology to measure velocity in addition to depth, reflectivity, and inertial motion. The company added that this draws significantly less power than other available technologies, including ToF, to bring perception to broad applications at an industry-leading cost.

“From the beginning, we believed that the only way to achieve the holy grail of lidar is to be integrated on a chip,” stated Mina Rezk, co-founder and chief technology officer of Aeva. “Over the last four years, we did it by leveraging Aeva’s unique coherent FMCW approach. With today’s announcement, we can use our development efforts to expand into new markets that were simply not possible before.”

Partners for production

In September, Aeva announced a production partnership with ZF Friedrichshafen, one of the world’s largest Tier 1 automotive suppliers, to supply what it described as the first automotive-grade 4D lidar to global OEM customers. The partnership will combine Aeva’s expertise in frequency modulated continuous wave (FMCW) lidar with ZF’s experience in mass production of automotive-grade sensors.

“Our vision has been to create a fundamentally new sensing system to enable perception across all devices,” said Soroush Salehian, co-founder and CEO of Aeva. “This milestone accelerates our journey toward delivering the next paradigm in perception to mass-market applications, not just in automotive, but [also] consumer and beyond.”

In 2019, Aeva announced a partnership with Audi’s Autonomous Intelligent Driving entity. Aeva has also partnered with multiple other passenger car, trucking, and mobility platforms to further adoption of advanced driver-assistance systems (ADAS) and autonomous applications.

SPAC combination worth $2.1B

Aeva said it plans to use 100% of the net proceeds from the transaction to accelerate its growth and commercialization. The combined company will have an implied pro forma equity value of approximately $2.1 billion at closing, and Aeva’s existing stockholders will hold approximately 80% of the issued and outstanding shares of common stock immediately following the closing.

The combined Aeva-InterPrivate business will provide up to $363 million in gross proceeds, including InterPrivate’s $243 million held in trust and a $120 million fully committed common stock PIPE (private investment in public equity) at $10 per share, including investments from Adage Capital and Porsche SE, the major shareholder of VW Group.

“We look forward to our combination with Aeva, which was the clear stand-out amongst the 100+ merger targets we evaluated,” said Ahmed Fattouh, chairman and CEO of InterPrivate. “The company’s breakthrough technology combines the key advantages of lidar, radar, motion sensing, and vision in a single compact chip.”

“As a result of this transaction, including the upsized PIPE private placement, Aeva is not expected to require any additional funding to achieve significant cash flow through its commercial partnerships with world class customers,” he said. “Soroush, Mina and their team are revolutionizing sensing solutions, not only for the automotive industry, but ultimately across all devices.”

https://www.therobotreport.com/aeva-spa ... ving-cars/
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letta75
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Re: Aeva - IPV (SPAC)

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Startup Aeva to work with Denso on lidar sensors

Silicon Valley startup Aeva and Japanese automotive supplier Denso on Tuesday said the two will collaborate on bringing a key sensor for self-driving cars to the "mass market."

Aeva, founded by two former Apple engineers, makes a lidar sensor that helps cars gain a three-dimensional view of the road and can also detect how quickly distant objects are moving.

Founded in 2017, Aeva is in the process of becoming publicly traded through a reverse merger with special-purpose acquisition company InterPrivate Acquisition in a deal with expected total proceeds of $563 million.

Aeva's sensor works on a principle called frequency modulated continuous wave, or FMCW, which is different from rivals such as Velodyne Lidar and Luminar Technologies.

In a statement, Kazuma Natsume, director of autonomous driving and advanced driver assistance systems engineering for division two of Denso, said the company plans on collaborating with Aeva "to further develop FMCW lidar, bring it to the mass market and create a society free from traffic accidents.”

Denso is the world's second-largest automotive supplier, working closely with automakers such as Toyota, which owns nearly a quarter of the company. Beyond saying the two they are targeting a mass market, Aeva and Denso did not disclose further details of the collaboration, such as what the final cost of Aeva's technology would be to automakers.

Aeva last year announced a deal with German automotive industry supplier ZF Friedrichshafen to put its lidar sensors into production, and in 2019 took an investment from Porsche Automobil Holding, the majority-voting shareholder of Volkswagen Group.

"Achieving high performance is table stakes" for lidar sensors, Soroush Salehian, Aeva's CEO, told Reuters in an interview. "Achieving high performance at an affordable cost is the holy grail."

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letta75
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Re: Aeva - IPV (SPAC)

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Aeva Inc raised $200 million in new funding ahead of a SPAC merger, one of several lidar startups to go public recently.
It's lidar's world, and we're all just living in it


Aeva Inc., a lidar startup founded by ex-Apple engineers, raised $200 million in new funding, according to an announcement on Monday. In total, the company has raised over $560 million.

The news comes as Aeva prepares to go public via a SPAC merger with InterPrivate Acquisition Corp. It also comes amid a burst of interest in startups that specialize in lidar, technology that at its core uses lasers to measure distance. Fellow startups Velodyne and Luminar also went public through a SPAC, and Ouster recently said it would merge with Colonnade Acquisition CLA and begin trading on the New York Stock Exchange.

The surge is in-part due to the advancements in autonomous driving. Waymo recently opened up its self-driving fleet to the public in the Phoenix suburbs; Cruise said in December it would begin putting fully driverless cars on the road in San Francisco (the company previously had safety drivers in the vehicles). Apple is also said to be developing a self-driving car slated for unveiling in 2024.

While lidar is often discussed in the context of autonomous vehicles, the tech has broader applications for the automotive industry and beyond. Apple, for example, is rumored to be including a lidar scanner on all new iPhone models moving forward, according to Digitimes. It's currently available only on the iPhone 12 Pro.

https://www.protocol.com/bulletins/lida ... aeva-apple

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Re: Aeva - IPV (SPAC)

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Ik zit in LAZR; heb jij reeds de moeite getroost om eens de verschillende lidar-bedrijven te vergelijke Letta75?

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Re: Aeva - IPV (SPAC)

Bericht door Droopymaes »

Jos de Gier schreef:
08 feb 2021 11:23
Ik zit in LAZR; heb jij reeds de moeite getroost om eens de verschillende lidar-bedrijven te vergelijke Letta75?
Ik zit ook in LAZR en volg dit topic dus ook met interesse.
Aangezien je deze vraag stelt, ga ik er vanuit dat jij dat zeker wel/ook gedaan hebt => Vanwaar je keuze voor LAZR?

Er zijn er redelijk wat om rekening mee te houden he:
VLDR
LAZR
CGRO
IPV
THBR

AEye
Sense
OURS
SILC
Aurora
Foresight

En dan laten we nog enkele buiten beschouwing die via China, OEM's, ... ook technologie proberen te ontwikkelen.

Voor alle duidelijkheid: mijn voorkeuren waren (van beste naar OK)
LAZR > VLDR >IPV >Indie > CGRO

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letta75
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Re: Aeva - IPV (SPAC)

Bericht door letta75 »

Jos de Gier schreef:
08 feb 2021 11:23
Ik zit in LAZR; heb jij reeds de moeite getroost om eens de verschillende lidar-bedrijven te vergelijke Letta75?
Ik heb LAZR in port gehad toen ze nog als SPAC GMHI noteerden. Ik ben echter uitgestapt richting merger omdat ik het risico op 30% RV niet wou lopen. Lidar is een hoog concurrentiële sector met diverse actoren (zoals u leest in de reactie van Droopy) met elk hun sterke punten.
U mag mij er zeker op vertrouwen dat ik mij de moeite heb getroost om de verschillende Lidar bedrijven te vergelijken waarmee ik zeker NIET wil zeggen dat LAZR geen goede inverstering is. Ieder zijn mening, keuzes, standpunten en visie.
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Re: Aeva - IPV (SPAC)

Bericht door Jos de Gier »

Ik heb LAZR maar dat is puur toeval; vorige zomer heb ik GMHI gekocht als één van de twee SPAC's om ook wat op de hype mee te surfen. Nadien bleek dit dan lidar te zijn en heb me uiteraard wel wat ingelezen in de technologie en het bedrijf Luminar maar heb niet echt veel vergelijkende studie gedaan.
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Re: Aeva - IPV (SPAC)

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Why Interprivate Acquisition Stock Jumped Today - The SPAC has plans to merge with Lidar sensor maker Aeva.
Feb 9, 2021 at 4:30PM

What happened
Investors have shown accelerated interest in lidar sensor maker Aeva recently, driving up the stock of the special purpose acquisition company (SPAC) with which it will be merging. Shares of InterPrivate Acquisition (NYSE:IPV) have surged more than 30% in the last two weeks, including a gain of 6.4% on Tuesday. Shares had jumped more than 18% earlier in the market session today.

So what
Today's jump comes after the Aeva CEO appeared on CNBC's Mad Money with Jim Cramer last night. On the program, Aeva CEO Soroush Salehian said the company's 4D lidar technology -- which will be used to help advance autonomous vehicles -- will be in production by 2024. The company is backed by automaker, and Volkswagen (OTC:VWAGY) parent, Porsche SE.

Now what
In the appearance on Mad Money, CEO Salehian touted the advancement of lidar sensor technologies from 3D to the 4D offering that Aeva developed. Aeva says its 4D lidar chips benefits include "instant velocity, long range, low power consumption," and scale for mass production applications.

Investors have taken renewed notice of autonomous vehicle applications recently, with rumors of the potential for Apple (NASDAQ:AAPL) to enter the space. Whether or not those reported plans come to fruition, investors are taking notice of Aeva, and an investment in the InterPrivate SPAC is currently the path to that ownership.

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Re: Aeva - IPV (SPAC)

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InterPrivate Announces Effectiveness of Registration Statement and Special Meeting Date for Proposed Business Combination with Aeva

Special meeting of InterPrivate's stockholders to approve the proposed business combination with Aeva to be held on March 11, 2021

Following closing, combined company stock and warrants will trade under 'AEVA' and 'AEVAW', respectively

InterPrivate's stockholders as of January 25, 2021 should submit their vote by March 10, 2021 - for more information regarding how to vote, please visit www.ipvspac.com/vote

https://www.prnewswire.com/news-release ... ent%20team.

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Re: Aeva - IPV (SPAC)

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