From the data mavens at Crunchbase, October 14:
A few years ago, public market investors sometimes lamented the lack of opportunities to directly invest in future-shaping technologies like autonomous driving.
Then, the SPAC and IPO boom of 2020-2021 arrived. All of a sudden, companies in scores of sectors once confined to venture capital portfolios were widely available on public markets. Developers of technologies tied to self-driving vehicles were particularly well-represented, launching market debuts with collective initial valuations of over $50 billion.
But investors’ love affair with the space didn’t last. A Crunchbase analysis of 14 companies developing technologies tied to self-driving vehicles that went public in the past couple of years shows an average post-debut decline of more than 80%.
The worst performers—a list that includes autonomous truck developer Embark and LiDAR technology companies Velodyne Lidar and Quanergy—are down over 95% or more. Both Quanery and Embark also completed reverse stock splits this year to lower the danger of delisting, only to see further valuation declines.
For a full rundown of how these 14 companies have performed, we put together a chart, seen below, showing valuations at time of debut compared to now:*****..... VCs are still investing
Given the public market’s rapidly decelerating interest in the space, one might expect to see venture investors put the brakes on big rounds for private companies tied to autonomous driving. That hasn’t entirely been the case....
....MUCH MORE
The table of tribulation is quite sad.
On the other hand the low-tech mechanical answer to a problem that plagues high-tech electronic LiDar always made me smile:
—From 2017's "Izabella Kaminska In Conversation With the Financial Times' Auto Industry Correspondent, Peter Campbell, on the Prospects for Autonomous Vehicles"
