Cepton

LidarUSA
New to Unitard
🀝 Acquired
PeakΒ $1.5 BillionToday
~-90%
from peak
  1. πŸ¦„
    Became a unicorn
    2021
  2. πŸ“ˆ
    Peak valuation
    $1.5 Billion ’21
  3. πŸ’”
    Became a Unitard
    2022
  4. πŸ’Έ
    Last valuation
    ~$150M
Current status
Majority acquired by Koito; small-cap

The rise & fall

5 moments Β· 2016–2024

The key moments.

2016
Founded in San Jose
Jun Pei and Mark McCord start a lidar maker for cars and smart infrastructure.
Wikipedia
2021
The peak: a $1.5B SPAC deal$1.5B
A blank-check merger values the lidar maker around $1.5B at the height of the sector's mania β€” unicorn status by press release.
Reuters
Feb 2022
Hits Nasdaq as the lidar trade sours
By the time the de-SPAC closes, the sector's SPAC class is deep underwater; Cepton's shares follow.
Reuters
2022
Slips out of the club
Lidar enthusiasm collapses and the market cap sinks far below $1B.
Reuters
2024
Koito takes majority control
The Japanese auto-lighting giant β€” long a key partner and investor β€” moves to majority ownership, leaving Cepton a small-cap roughly 90% below its peak.
Reuters

How it happened

Cepton is a lidar maker for automotive and smart-infrastructure applications. It reached a roughly $1.5B valuation and went public via SPAC in early 2022. As lidar-sector enthusiasm collapsed, its shares fell sharply below $1B. Japanese auto-lighting firm Koito, a key partner and investor, took a majority stake, leaving Cepton a small-cap roughly 90% below its peak.

A small set of Glassdoor reviews was generally positive, with scattered notes on communication and job stability at the lidar maker.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—. See our methodology.

Source: De-SPAC 2022

Founders

  • Jun Pei
    co-founder & CEO
    Still there β€” CEOLinkedIn β†—
  • Mark McCord
    co-founder & CTO
    Still there β€” Technical AdvisorLinkedIn β†—
  • Jun Ye
    co-founder
    No public profile matched

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

Disclosed investors (3)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

More from the club

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