Quanergy is looking for new capital investment, Eldada said, about one-third of the laser pointer investment will come from China. He declined to disclose potential investors. When Samsung and Sensata will follow up on a new round of financing, he said, "They have already caught what they want."
Quanergy's critics say that there is a gap between what it claims to be and what it actually achieves, and it is expanding. A former Quanergy employee stated that he had never seen a device that met all specifications at Quanergy. Of course, Quanergy denied this. In July of this year, senior employee Ryan Field, who is responsible for laser pointer radar chip design, announced his departure. The departure of Ryan Field is a blow to Quanergy.
At the same time, Quanergy is looking for applications in other areas of laser radar. Eldada has begun to build sensors for the electronic barrier on the US-Mexico border, which he believes is a humane alternative to the border wall promoted by US President Trump.
The challenge for Quanergy indicates that the autonomous vehicle industry is about to face a broader reshuffle. According to CB Insights, a company that tracks venture capital activities, investors have invested about $750 million in laser radar companies since 2013, reaching a peak of $350 million last year. Companies working on car map mapping, software and other technologies are also raising funds and are determined not to miss the revolution in this round of transportation. However, full and complete autonomous driving seems to take years, which makes its business prospects questioned. Startups that attract investment based on future breakthroughs are working hard to solve technology and business challenges.
“The market’s frenzy is cooling,” said Mike Ramsey, a transportation and mobile business analyst at Gartner, a leading market research firm. “The closer to the actual application, the more difficult it is to commercialize.” Ramsey said some autopilot companies are lowering Their expectations, from building their own software to seeking help from other companies, are expected to see significant integration in the current 50 or so companies in the Lidar field. “There is not enough room in the market to leave a piece of cake for every business,” he said.
Eldada's idea of starting Quanergy goes back to his doctoral studies at Columbia University. After graduation, Eldada worked for Honeywell and manufacturing expert DuPont Photonics, and worked for several telecommunications and energy companies. During his career, Eldada began working with technical experts who formed the founding team of Quanergy's core. “We have developed a unique product together, designed a laser pointer device that is not available on the market, and developed something that the school did not teach,” Eldada said. “Quanergy does not fix bugs, but products that are not well-sold”