Ramachandran to Oversee Product Strategy and
Management across all Vertical Industries Globally; Former Cepton
and Velodyne Executive is the Latest LiDAR Industry Leader to Join
the AEye team
AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive,
high-performance LiDAR solutions, today announced the appointment
of Dr. T.R. Ramachandran as chief product officer. Ramachandran,
who has more than two decades of experience delivering complex,
market-leading solutions to large global customers, will report to
AEye CEO Blair LaCorte. His hiring comes amid rapid growth for
AEye, as the company builds out its management team and expands
globally to meet accelerating market demand for its adaptive
LiDAR.
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Former Cepton and Velodyne Executive T.R.
Ramachandran is the Latest LiDAR Industry Leader to Join the AEye
team (Photo: Business Wire)
Ramachandran brings over 23 years of experience in the
technology industry to his new position, including global product
launches and related marketing activities. Prior to AEye, he led
marketing and product management at LiDAR companies Cepton and
Velodyne. His deep experience in the LiDAR industry extends across
several key markets, such as autonomous vehicles (AV), advanced
driver assistance systems (ADAS), intelligent transportation
systems (ITS), and security. Among his prior roles, he also served
as a Vice President at LSI Corp. and helped pave the way for its
acquisition by Broadcom (Avago) in 2014. He holds a Ph.D. in
Materials Science from the University of Southern California, with
a focus on InGaAs optoelectronics, as well as scanning probe-based
imaging and nanotechnology.
“T.R. joins the AEye team at the perfect time to guide the
strategy and development of our next generation of 4Sight™
products,” said Blair LaCorte, CEO of AEye. “His proven track
record of delivering industry leading products will ensure we are
able to continue to deliver world leading performance to our
customers. T.R. had the opportunity to work anywhere in the
industry. In choosing to join the AEye team, he validates that our
technology, team, and business model are the most compelling in the
industry.”
AEye LiDAR Uniquely Enables Higher Levels of Autonomous
Functionality AEye has developed a unique software configurable
LiDAR system, based on a modular hardware platform. Its LiDAR uses
adaptive sensing to deliver industry-leading performance to address
the most difficult challenges facing autonomous driving. Unlike
traditional sensing systems, which passively collect data, AEye’s
adaptive LiDAR scans the entire scene, while intelligently focusing
on what matters in order to enable safer, smarter, and faster
decisions in complex scenarios, while meeting automotive functional
safety requirements. As a result, AEye’s LiDAR is designed to
enable higher levels of autonomous functionality (SAE L2-L5) at the
optimal performance, power, and price.
This modular system design and software programmability enables
AEye to produce a single LiDAR system that can be optimized for
multiple markets, while uniquely driving innovation and reducing
costs. For the ADAS market, AEye licenses its technology to Tier 1
automotive suppliers. Recently, Continental announced it has
integrated AEye’s long-range LiDAR technology into its full stack
Automated Driving platform, and is industrializing the technology
for a planned start of volume production in 2024.
This announcement comes at a time of rapid growth and expansion
for AEye. In recent months, the company has added key executives to
its management team, as well as opened offices in Japan and Korea
and expanded AEye’s footprint in Europe and the U.S. To get the
latest AEye news and information, sign up for the company
newsletter at https://www.aeye.ai/updates-sign-up/.
About AEye AEye is the premier provider of intelligent,
next generation, adaptive LiDAR for vehicle autonomy, advanced
driver-assistance systems (ADAS), and robotic vision applications.
AEye’s iDAR™ (Intelligent Detection and Ranging) system and 4Sight
sensors leverage biomimicry and principles from automated targeting
applications used by the military to scan the environment,
intelligently focusing on what matters most, enabling faster, more
accurate, and more reliable perception. iDAR is the only software
configurable LiDAR with integrated deterministic artificial
intelligence, delivering industry-leading performance in range,
resolution, and speed. The company was founded in 2013 and is based
in the San Francisco Bay Area.
Forward-Looking Statements Certain statements included in
this press release that are not historical facts are
forward-looking statements within the meaning of the federal
securities laws, including the safe harbor provisions under the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements are sometimes accompanied by words such
as “believe,” “continue,” “project,” “expect,” “anticipate,”
“estimate,” “intend,” “strategy,” “future,” “opportunity,”
“predict,” “plan,” “may,” “should,” “will,” “would,” “potential,”
“seem,” “seek,” “outlook,” and similar expressions that predict or
indicate future events or trends, or that are not statements of
historical matters. Forward-looking statements are predictions,
projections, and other statements about future events that are
based on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. These statements are based on
various assumptions, whether or not identified in this press
release. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as and
must not be relied on by an investor as a guarantee, an assurance,
a prediction, or a definitive statement of fact or probability.
Actual events and circumstances are very difficult or impossible to
predict and will differ from the assumptions. Many actual events
and circumstances are beyond the control of AEye. Many factors
could cause actual future events to differ from the forward-looking
statements in this press release, including but not limited to: (i)
the risks that the Company will be unable to deliver world leading
performance to its customers as quickly as anticipated, or at all;
(ii) the risks that we will be able to successfully launch products
into the market, or at all; (iii) the risks that the Company’s
relationship with Continental will result in the development of a
product for the automotive market that meets the expectations of
customers, or at all; (iv) the risks that the Company’s products
can be optimized for multiple markets, or at a price point
acceptable to our customers; (v) the risks that the Company’s
growth in expenses will be outweighed by market opportunities or
revenue generated by such additional overhead; (vi) the risk that
lidar adoption occurs slower than anticipated or fails to occur at
all; (vii) the risk that AEye’s singular LiDAR system can be
optimized effectively and efficiently for multiple markets; (viii)
the risk that AEye’s products will not meet the diverse range of
performance and functional requirements of AEye’s target markets
and customers; (ix) the risk that AEye’s products will not function
as anticipated by AEye or by AEye’s target markets and customers;
(x) the risk that AEye may not be in a position to adequately or
timely address either the near or long-term opportunities that may
or may not exist in the evolving autonomous transportation
industry; (xi) the risk that AEye will be unable to successfully
realize the benefits of AEye’s capital-light business model; (xii)
the risk that laws and regulations are adopted impacting the use of
lidar that AEye is unable to comply with, in whole or in part;
(xiii) changes in competitive and regulated industries in which
AEye operates, variations in operating performance across
competitors, and changes in laws and regulations affecting AEye’s
business; (xiv) the risk that AEye is unable to adequately
implement its business plans, forecasts, and other expectations,
and identify and realize additional opportunities; and (xv) the
risk of downturns and a changing regulatory landscape in the highly
competitive and evolving industry in which AEye operates. These
risks and uncertainties may be amplified by the COVID-19 pandemic,
which has caused significant economic uncertainty. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the “Risk Factors” section of the registration
statement on Form S-4, that includes a definitive proxy
statement/prospectus, that AEye (formerly known as CF Finance
Acquisition Corp. III) filed with the U.S. Securities and Exchange
Commission (the “SEC”) and other documents filed by AEye or that
will be filed by AEye from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on
forward-looking statements; AEye assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. AEye gives no assurance that AEye will achieve any of
its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20211111005428/en/
Media Contact: AEye, Inc. Jennifer Deitsch
jennifer@aeye.ai 925-400-4366 Investors: Financial Profiles,
Inc. Matthew Keating, CFA AEye@finprofiles.com 310-622-8230 John
Brownell AEye@finprofiles.com 310-622-8489
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