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Report: Velodyne Lidar Poised for IPO
San Jose, Calif.-based Velodyne Lidar Inc. has hired bankers to evaluate a possible public stock offering as the company prepares to ramp up for mass production, Business Insider reports.
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San Jose, Calif.-based Velodyne Lidar Inc. has hired bankers to evaluate a possible public stock offering as the company prepares to ramp up for mass production, Business Insider reports.
The lidar supplier, which has been valued at an estimated $1.8 billion, reportedly is working with Bank of America Merrill Lynch, Citigroup, Royal Bank of Canada and William Blair. Velodyne declined to comment.
The company says it has more than 250 customers worldwide, mostly for low-volume prototype applications and autonomous vehicle test fleets. The supplier received a $25 million investment from Nikon last December. As part of the deal, Nikon will produce lidar systems for Veloydne in Japan.
Velodyne also opened its own megafactory in California last year and is partnering with Veoneer, which was spun off from Autoliv in 2018. In 2015, Ford and Chinese internet giant Baidu each invested $75 million in Velodyne.
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