Aeva announces $100M investment from Apollo

Aeva (AEVA) announced that funds managed by Apollo will invest $100M in 4.375% Convertible Senior Notes to support Aeva’s growing commercial momentum and accelerate the adoption of FMCW 4D LiDAR across a broad range of applications. “This investment demonstrates strong confidence in Aeva’s leadership position in next generation sensing, driven by our unique perception technology platform,” said Soroush Salehian, Co-founder and CEO at Aeva. “The additional capital infusion comes at a defining time in the industry with Aeva reinforcing its clear leadership position across multiple segments, and will further position the company to execute and scale existing programs and additional opportunities in automotive, industrial, robotics and beyond.”