A Velodyne Lidar sensor is seen to be mounted on a self-propelled vehicle when the self-race-car event held at Thunderhill Raceway in Willows, California, u.s., April 1, 2017. REUTERS/Stephen Lam
(Ap) – an Autonomous-vehicle technology company, Velodyne Lidar, has hired bankers for an initial public offering, Business Insider reported on Saturday, citing sources familiar with the process.
The San Jose, Calif. – based company is working with Bank of America Merrill Lynch, Citigroup Inc., the Royal Bank of Canada, as well as William Blair, and for a potential initial public OFFERING, according to the report.
Velodyne is looking to exceed their own valuation of $1.8 billion, and the public at large prior to the end of 2019-Business insider adds, citing a source.
Nikon Corp. (a) an investment of $25 million, the self-driving car technology, the company in December of 2018.
Velodyne Lidar did not respond to Reuters’ request for comment outside of regular business hours.
Reporting Ishita Chigilli Palli Bengaluru; Editing by Daniel Wallis