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

Top 10 female executives leading Japan's charge for change

As Japan pledges a 30% target for women executives at big firms by 2030, we spotlight 10 female corporate leaders blazing a trail in the country

Top 10 most valuable unicorns in China – phones to drones

Home to the world’s most valuable unicorn, not to mention the fastest growing, China may be trailing the US on numbers, but it is catching up – and fast

Top 10 fastest-growing energy companies in the APAC region

Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

Top 10 Chief Financial Officers in India

Corporate Finance

Top 10 largest companies Malaysia and the CEOs who helm them

Leadership & Strategy

5 high-profile CEO moves across Asia-Pacific this month

Leadership & Strategy