MINIEYE, a Chinese company concentrating on developing sensing system of autonomous driving, recently announced the completion of its Series B financing and received hundreds of millions of credit lines.
This series of financing was strategically led by NavInfo fund and co-invested by Zhejiang Zheshang capital while original investors continued to increase their holdings.
In the latest six months, MINIEYE raised $20 million in total, which it plans to use to further boost its advantage in the industry, increase the market share and maintain a steady cash flow during business expansion. Meanwhile, the funding will help the company to focus on the research of L2+ autonomous driving products and speed up their mass production.
MINIEYE also disclosed that L2-L3 autonomous driving products will be released within the year while accelerating its series B+ financing.
Source: Press Release