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Apple Veterans’ Lidar Startup Adds $200 Million to SPAC Deal

  • Deal values Aeva around $3 billion ahead of reverse merger
  • Volkswagen shareholder Porsche SE is strategic investor
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Aeva, a laser-sensor startup founded by two ex-Apple Inc. engineers, is poised to increase its war chest by $200 million with an investment by a Hong Kong-based hedge fund ahead of its public listing via a reverse merger.

The funding from Sylebra Capital Management is expected to boost the total proceeds from its planned deal with InterPrivate Acquisition Corp. to $563 million, an Aeva executive said. Investor interest in Aeva is part of a wave of financing deals targeting next-generation auto-related companies focused on fields such as battery-electric and driverless technology.