Aeva, a company specializing in next-generation sensing and perception systems, announced that funds managed by Apollo will invest $100 million in Aeva through the purchase of 4.375% Convertible Senior Notes. The investment is intended to support the company’s increasing commercial traction and drive broader adoption of its FMCW 4D LiDAR technology across multiple sectors.
The capital will enable Aeva to expand execution across existing customer programs and pursue additional growth opportunities in automotive, industrial automation, robotics, and emerging applications in smart infrastructure and consumer technologies. Leadership at the company emphasized that the funding comes at a crucial time, as global demand for sensing systems that provide high-resolution perception and real-time measurement of velocity and position is on the rise.
Under the terms of the agreement, Apollo-managed funds will purchase $100 million in aggregate principal amount of the Convertible Senior Notes, which carry a 4.375% annual interest rate and mature on November 15, 2032. The notes may be paid in cash or Aeva common stock and are convertible at an initial price of $15.8643 per share, representing a 15% premium over Aeva’s closing stock price as of November 4, 2025. Upon conversion, Aeva may settle in cash, shares, or a combination of both at its discretion.
The company noted that further details are included in a Form 8-K that will be filed with the U.S. Securities and Exchange Commission. Morgan Stanley served as financial advisor to Aeva. Legal counsel for Aeva was provided by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP and Fenwick & West, LLP. White & Case LLP served as legal counsel to the Apollo Funds.
Aeva develops perception and sensing solutions that integrate lidar-on-chip hardware with system-on-chip processing and embedded perception algorithms using silicon photonics. The company’s 4D LiDAR technology is designed to detect both position and velocity simultaneously, supporting safer and more intelligent decision-making by automated systems ranging from vehicles to industrial and service robots.
KEY QUOTE:
“This investment demonstrates strong confidence in Aeva’s leadership position in next generation sensing, driven by our unique perception technology platform. The additional capital infusion comes at a defining time in the industry with Aeva reinforcing its clear leadership position across multiple segments, and will further position the company to execute and scale existing programs and additional opportunities in automotive, industrial, robotics and beyond.”
Soroush Salehian, Co-founder and CEO at Aeva
