Minieye, a Chinese company that focuses on the development of sensing systems for autonomous driving, completed a 270m RMB Series C financing.
Backers included Harvest Fund, Oriental Fortune Capital, Vision+ Capital, and original investor NavInfo.
The company intends to use the funds to relieve the pressure on the supply chain caused by mass delivery and to increase the cash reserve and keep investing in research and development of advanced autonomous driving technologies.
Led by CEO, Dr. Liu Guoqing, Minieye aims to implement artificial intelligence to provide reliable sensing and decision-making solutions for autonomous driving. The company focuses on improving the automation degree and, at the same time, reducing the accident rate and guaranteeing the safety of drivers and passengers. In 2018, Minieye received the approval of the Original Equipment Manufacturer (OEM) and achieved mass production in the factory-installed market. Currently, providing products from phase L0 to phase L3, MINIEYE serves over 20 clients including GM, Ford, SAIC, BYD, Dongfeng, SINOTRUK, JAC, JMC, etc.