RoboSense, a Shenzen, China-based autonomous driving LiDAR perception solution provider, closed an over $45m (RMB300m) financing.
– Cainiao Smart Logistics Network Ltd., the logistics arm of the Alibaba Group,
– SAIC Motor Group (Shanghai Automotive Industry Corporation), and
– BAIC Group (Beijing Automotive Industry Holding Co.) electric vehicle company.
The company intends to use the funds to increase its market share and the R&D of autonomous vehicle technologies, including solid-state LiDAR, AI sensing algorithms, and other advanced technologies, as well as accelerating product development, long-term manufacturing and market penetration.
Founded in 2014, RoboSense is a provider of LiDAR environment aware solutions for autonomous vehicles. Since its inception, the company has adhered to underlying core technology innovations, from chips to LiDAR sensors, to intelligent sensor systems that incorporate AI aware algorithms.
From previous financing rounds, the company already has secured backing from auto manufacturing, financial brokerage, and artificial intelligence (AI) companies, including Haitong Securities, Fosun Group, Oriental Fortune Capital, Kinzon Capital, and Guangdong Investment Pte Ltd.