RoboSense, LiDAR perception solution provider, has announced the completion of China’s largest-ever single round of financing for a LiDAR company – a combined investment of over $45 million.
The strategic funding was provided by technology and industry leaders, including Cainiao Smart Logistics Network Ltd. (“Cainiao”), the logistics arm of the Alibaba Group; SAIC Motor Group (Shanghai Automotive Industry Corporation), the largest publicly-traded auto manufacturer in China’s A-Share; and BAIC Group (Beijing Automotive Industry Holding Co.) electric vehicle company.
The company claims it has over 50% market share of all LiDAR sold in Asia and is the market leader in the region. The funding will be used to increase RoboSense’s market share and the R&D of autonomous vehicle technologies, including its solid-state LiDAR, AI sensing algorithms, and other advanced technologies, as well as accelerating product development, long-term manufacturing and market penetration.
In the past two years, the commpany has had explosive growth. In April 2017, the company completed mass production of its 16-beam automotive LiDAR. In September 2017, the company mass-produced its 32-beam LiDAR, released a LiDAR-based autonomous driving environmental sensing AI system, and provided a software and hardware combined LiDAR environment sensing solution.
In October 2017, RoboSense launched its breakthrough product – the MEMS solid-state LiDAR, publicly exhibited for the first time at CES 2018 in January 2018. Four months after CES 2018, RoboSense partnered with the Cainiao Network to launch the world’s first MEMS LiDAR autonomous logistics vehicle – the G Plus.