Published : Aug. 23, 2016 - 18:16
[THE INVESTOR] Samsung Group’s start-up accelerator Samsung Venture Investment has recently raised its stakes in Silicon Valley-based self-driving sensor start-up Quanergy.
The start-up recently attracted a combined US$90 million funding from a consortium led by auto parts manufacturer Delphi Automotive. Samsung was one of the key investors together with Motus Ventures and GP Capital.
The firm didn't specify the funding from Samsung alone.
The fresh investment comes after Samsung had invested US$4.5 million into the firm back in May 2014.
Quanergy produces light detection and ranging sensors used in self-driving cars. Its key product is light-sensitive radar, known as LiDAR.
By Lee Ji-yoon (jylee@heraldcorp.com)