Self-driving tech maker Velodyne LiDAR mulls IPO

Velodyne LiDAR, an American company that makes autonomous vehicle technologies is planning to launch an initial public offering, IPO.

According to Business Insider, Velodyne LiDAR which received about $25 million in funding from Japan’s Nikon Corp. in 2018 is planning to up its private valuation of about $1.8 billion.

The medium reported that Velodyne LiDAR has hired Bank of America Merrill Lynch, Citigroup Inc, Royal Bank of Canada as well as William Blair to put the IPO together.

Sources familiar with the matter claimed that the self-driving car company plans to complete the IPO before the end of the year.

The company has not commented on the matter.