Aeva Goes Public in $2.1 Billion Merger

Aeva has gone public in a $2.1 billion merger. The company is merging with InterPrivate Acquisition Corp. with a postmarket valuation of $2.1 billion. Aeva is a California-based lidar company. Two Apple engineers are the ones who started the company. The company has the backing of Porshe. Ahmed Fattouh is heading the deal, which is expected to close by early 2021. This deal makes Avea the latest company to avoid the traditional IPO path and go public via Special Purpose Acquisition Company (SPAC). The two other lidar companies who took this path are Velodyne and Luminar.

What is Lidar?

Lidar is a light detection and ranging radar that measures distance. It is a necessary sensor in the automated driving industry. The leading lidar company in the industry is Velodyne. It is also…