RoboSense concludes another transaction for latest investment round
Beijing (Gasgoo)- On June 14th, LiDAR supplier RoboSense announced the completion of the latest transaction in its new strategic investment round.
Photo credit: RoboSense
The recent transaction was led by a fund from China Renaissance, and followed by Yunfeng Financial Group, Greenwoods Investment, and Kinzon Capital. Up to now, existing investors (aside from the aforementioned ones) in RoboSense’s latest financing round include Hubei Xiaomi Yangtze River Industry Investment Fund, Yutong Group, BYD, Desay SV, and others. Its investors range from upstream auto part suppliers, downstream automakers, up-rising industrial capitals, and professional investment organizations.
RoboSense’s co-founder and president, Qiu Chunchao, said that the investments will help the company complete its ecosystem within the industry, while the funding will help it improve the performance, reliability, and mass production of LiDAR products.
As a matter of fact, RoboSense has indeed been laying out its relationship throughout the industry. The company has received investments from Alibaba-backed Cainiao, SAIC Motor’s Shangqi Capital, and BAIC Group, furthering the volume application of LiDAR.
In accordance with its continued cooperation with various automakers, the company set a project to expand its production as well. In March 2021, RoboSense established China’s first production line for auto-grade solid-state LiDAR, which is expected to output an annual capacity of a million units in 2022.