Aeva Technologies develops 4D LiDAR-on-chip sensors using proprietary Frequency Modulated Continuous Wave (FMCW) technology that measures velocity along with depth, reflectivity, and motion, enabling instant velocity detection across every pixel while remaining immune to LiDAR and sunlight interference. The company sells perception solutions on a per-unit basis across three primary markets: automotive (targeting advanced driver-assistance and autonomous driving systems), industrial automation (for robotics, metrology, and process automation), and smart infrastructure (for intelligent transportation and security applications). Revenue currently derives from development agreements and prototype sales during customer design and validation cycles, with the expectation that customers will transition to volume production at agreed-upon unit rates after multi-year evaluation periods.