Launching Pad Investment Fund Company's angel round investment project in 2018-AEye Company, officially announced its entry into the SPAC merger and listing process in February 2021. AEye Company, headquartered in Dublin, California, USA, produces and manufactures automation sensor technology for driving a car (called lidar). In October last year, Continental AG, Europe's second-largest auto parts supplier, acquired a part of AEye.
On February 17, 2021, AEye announced plans to merge with CF III, which is expected to result in the company being publicly listed on the Nasdaq and provide growth capital for expansion. Proceeds of the transaction include $225 million in cash from a fully subscribed PIPE offering and $230 million held in CF III.
AEye is the premier provider of high-performance, active LiDAR systems for vehicle autonomy, advanced driver-assistance systems (ADAS), and robotic vision applications. AEye’s software-definable iDAR™ (Intelligent Detection and Ranging) platform combines solid-state active LiDAR, an optionally fused low-light HD camera, and integrated deterministic artificial intelligence to capture more intelligent information with less data, enabling faster, more accurate, and more reliable perception.