Aeva Secures $100m Investment to Accelerate FMCW 4D LiDAR Adoption
Aeva, a trailblazer in next-generation sensing and perception systems, has received a significant vote of confidence from Apollo Funds, which are set to invest $100 million in 4.375% Convertible Senior Notes. The strategic investment underscores growing momentum for Aeva’s Frequency Modulated Continuous Wave (FMCW) 4D LiDAR technology and its potential to revolutionise autonomous systems across multiple industries.
Soroush Salehian, Co-founder and CEO of Aeva, expressed enthusiasm about the investment: “This investment demonstrates strong confidence in Aeva’s leadership position in next generation sensing, driven by our unique perception technology platform. 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.”
The Details Behind the Deal
Under the agreement, Apollo Funds will acquire $100 million in aggregate principal amount of 4.375% Convertible Senior Notes due in 2032. The Notes carry an initial conversion price of $15.8643, representing a 15% premium above Aeva’s closing stock price on 4 November 2025. With a seven-year maturity date set for 15 November 2032, the Notes may be repurchased, redeemed, or converted earlier at Aeva’s discretion.
The Notes will bear annual interest of 4.375%, payable either in cash or Aeva’s common stock. Upon conversion, Aeva retains the right to settle payments in cash, shares, or a combination of both. This flexible structure reflects the company’s strategic approach to managing liquidity and capital allocation as it continues to expand its technological reach.
Advisory roles for the transaction were handled by Morgan Stanley as Aeva’s financial advisor, with legal counsel provided by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, and Fenwick & West, LLP. The Apollo Funds were represented by White & Case LLP.
Strengthening Market Position
The investment couldn’t come at a more pivotal time for Aeva. As industries from automotive to industrial automation increasingly rely on precise sensing capabilities, the demand for robust, high-resolution LiDAR systems is growing rapidly. Aeva’s FMCW 4D LiDAR stands out for its ability to simultaneously measure distance and velocity, providing critical real-time data that enhances perception accuracy and decision-making for autonomous systems.
Aeva’s technology integrates lidar-on-chip design, system-on-chip processing, and advanced perception algorithms directly onto silicon using silicon photonics. This combination allows for compact, scalable solutions ideal for mass production, positioning Aeva as a front-runner in delivering next-generation sensing systems.
The company’s products have already attracted attention from global automakers and technology developers seeking to enhance vehicle safety, industrial robotics precision, and infrastructure monitoring. By merging high-speed data acquisition with intelligent perception, Aeva is helping shape a safer and more efficient future for automation.
Revolutionising Autonomy Through 4D Perception
Aeva’s unique 4D LiDAR platform represents a major leap in perception technology. Unlike conventional LiDAR systems that only capture spatial dimensions, Aeva’s sensors detect the velocity of each point in the scene. This “fourth dimension” provides richer contextual awareness, allowing autonomous systems to anticipate motion rather than simply react to it.
This capability is vital for the next generation of autonomous mobility and robotics. Vehicles equipped with Aeva’s sensors can detect oncoming objects with exceptional accuracy, even in adverse weather or low-light conditions. Similarly, industrial robots gain the ability to navigate dynamic environments with greater precision, improving safety and operational efficiency.
In smart infrastructure, Aeva’s sensors can be deployed for real-time monitoring of traffic patterns, pedestrian movements, and environmental changes, feeding valuable insights into urban planning and safety management.
Expanding Commercial Applications
Beyond the automotive sector, Aeva’s sensing technology is gaining traction in manufacturing automation, logistics, and even consumer electronics. The company’s scalable silicon-based architecture enables integration into smaller, cost-effective modules suitable for a wide range of devices.
Manufacturers are exploring Aeva’s solutions to enhance factory automation systems, enabling machines to perceive their surroundings more intelligently and adapt to variable conditions. In logistics and warehousing, LiDAR-equipped autonomous robots are improving efficiency and reducing human error by navigating complex spaces with minimal supervision.
Consumer electronics developers are also eyeing Aeva’s compact sensors for next-generation augmented reality and home robotics applications, where spatial awareness is key to intuitive interaction.
A Strategic Endorsement
Apollo’s investment represents more than financial support; it’s a strategic endorsement of Aeva’s technological vision and execution. With deep roots in global investment management, Apollo brings financial strength and market credibility, providing Aeva with the resources needed to accelerate production and broaden its customer base.
This infusion of capital will allow Aeva to scale existing programs, pursue new partnerships, and refine its manufacturing capabilities to meet surging global demand. It also strengthens Aeva’s balance sheet at a time when innovation in autonomous sensing is advancing at breakneck speed.
The Broader Market Context
According to industry analysts, the global LiDAR market is projected to surpass US$10 billion by 2032, driven by the convergence of AI, robotics, and advanced sensing technologies. FMCW LiDAR, in particular, is gaining attention for its superior performance and ability to deliver instantaneous velocity data—an advantage over traditional time-of-flight LiDAR systems.
Aeva’s early leadership in this field positions it to capture significant market share as adoption spreads across industries. The company’s vertically integrated approach, combining proprietary hardware, software, and silicon photonics, enables faster innovation cycles and cost efficiencies unmatched by many competitors.
Building a Smarter, Safer Future
Aeva’s mission extends beyond innovation for innovation’s sake. The company envisions a world where intelligent sensing systems underpin safer roads, smarter factories, and more responsive urban environments. Its technology isn’t just about enabling autonomy; it’s about creating ecosystems that interact more harmoniously with people and the world around them.
By fusing cutting-edge perception technology with a forward-thinking business strategy, Aeva continues to redefine the boundaries of what’s possible in sensing and automation. The latest investment from Apollo only adds momentum to this journey, accelerating the company’s progress towards a truly autonomous future.
