Louay Eldada, CEO & Co-founder of Quanergy, is a seasoned entrepreneur who has started several companies and has sold 3 businesses to Fortune 100 companies. After serving as an Executive at Honeywell, Corning, Telephotonics, DuPont, HelioVolt, SunEdison, Louay’s insider knowledge and dynamic vision led him to develop the technology behind Quanergy.
Quanergy Systems is currently developing the world’s leading LiDAR by using data to disrupt and revolutionize digital navigation and location based services.
The Silicon Valley-based company uses smart sensing solutions for real-time mapping and object detection, tracking, and classification. Among others, the technology can be of value to logistics companies, automobile makers and companies such as Google as they develop their autonomous driving cars.
Quanergy is using its recent seed funding to develop and commercialize its Mark VIII LiDAR product, which will improve the accuracy and reliability of on-board driver safety systems, enhance them with object recognition and scenario analysis, and significantly reduce cost.
The company has already established strategic partnerships with global automobile manufacturers and digital map makers. Once Quanergy introduces its first product, the Mark VIII, we will see an expanding market footprint that will lay the foundation for the most advanced vehicle safety and autonomous driving systems.
The startup is backed by Transportation Technology Ventures LLC, Wardenclyffe Partners LLC (a new seed fund formed by the founders of Tesla), Newbury Ventures, and Markis and is well on its way to becoming a runaway success story.