Chinese LiDAR firm RoboSense secures US$45mn in funding

Chinese developer of LiDAR solutions for autonomous vehicles has secured US$45mn in new funding
 
LiDAR technology measures distances by flashing light at objects and using sensors to measure aspects of the light reflected back.
 
The firm has said that its focuses for LiDAR development are performance, safety, reliability, and low-cost production.
 
RoboSense holds over 50% of the LiDAR market in Asia, and this latest funding injection has been led by industry giants such as Alibaba’s Cainiao Smart Logistics Network, SAIC Motor Group, and electric vehicle firm BAIC Group.
 
The company plans to use this funding to further its domination of the LiDAR market as well as to continue research and development, manufacturing, and distribution of tech for autonomous vehicles.
 
See more:
 
 
RoboSense is currently continuing to develop its “solid-state LiDAR, AI sensing algorithms, and other advanced technologies” according to its statement.
 
“The rapid development of autonomous driving has ignited a huge demand for LiDAR,” said RoboSense cofounder Mark Qiu.
 
“This round of funding is not only for capital assistance, but also for strategic resources. We are looking forward to continuously working with our partners to lead the large-scale commercialization era of the autonomous driving industry.”
 
RoboSense’s statement noted projections for the growth of the autonomous vehicle market, citing IHS Market’s predictions that global sales of self-driving vehicles will reach 21mn by 2035, up from 600,000 projected for 2025.
Share

Featured Articles

Welcome to the New Age of the CISO

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Making the UAE the world’s strongest digital fortress

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on visionary plans to build the world’s most secure digital society

World Mental Health Day – 10 apps to improve wellbeing

Employers should recognise the growing use of apps to help support mental health – here are 10 to consider on World Mental Health Day

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Leadership & Strategy

Best new books that will make you a better leader

Leadership & Strategy

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Leadership & Strategy