Cepton Technologies, Inc. and Growth Capital Acquisition Corp. announced the completion of their previously announced business combination. Cepton Technologies, Inc. is a Silicon Valley innovator and leader in high-performance lidar solutions.
The business combination was agreed upon at a particular meeting of GCAC’s stockholders on Wednesday, February 9, 2022. “The day is a special milestone for Cepton,” said Dr. Jun Pei, Cepton’s Co-Founder and CEO. “We founded Cepton to enable safe and autonomous transportation for everyone, and today’s announcement is another step in making that vision a reality. As a public company, we remain focused on the goals of mass-market lidar adoption in consumer vehicles and expanding our market leadership position while driving value for all of Cepton’s stakeholders.”
On the spread of the news, George Syllantavos, co-CEO of GCAC, also added, “We are delighted with the successful completion of this business combination. Cepton is at the forefront of technological advancements with the industry's largest known ADAS lidar series production award and ongoing engagements with all of the Top 10 global OEMs. We are delighted about the future and persisting in supporting the company in its public phase.”
I am impressed by the elegant technical resolutions Cepton is fetching to the lidar industry in addressing automotive ADAS needs. I’m certain that Cepton’s solutions will gain further commercial triumph in automotive and other markets. Time works in Cepton’s favor now that its public life has begun, and its vision is on track to materialize,” said Akis Tsirigakis, co-CEO of GCAC.
Akis Tsirigakis, co-CEO of GCAC
The combined business journey will continue to be led by Dr. Jun Pei and the rest of the current Cepton management team. In addition, George Syllantavos, co-CEO of GCAC, will serve as a director of Cepton.