MINIEYE now has a new role as a service provider for HD map makers. The announcement was made by Dr. Liu Guoqing, founder and CEO of MINIEYE at an event.
In April of this year, MINIEYE closed its Series B financing led by the funds of Navlnfo, announcing the two parties will start business cooperation on HD maps. According to Dr. Liu, their cooperation is exactly based on MINIEYE’s ADAS products.
Data collecting and data updating are two key process of producing HD maps and MINIEYE designs a lightweight device for map data collection which enables the stability of data collection in different light conditions. Meanwhile, the considerable installment amount of ADAS products in both OEM market and Aftermarket makes it possible for MINIEYE to provide data updating service for HD map right now nearly 30 car models have been installed their ADAS product.
As most HD map makers use crowdsourcing for data updating, Liu said that vehicles installed with MINIEYE’s ADAS products are now travelling for 26 million kilometers a day on average in 30 provinces of China, making MINIEYE a reliable partner of NavInfo.
While exploring business opportunities in ADAS market, the company finds more possibilities in its business model. Compared to merely selling products or services, It realizes data collected by ADAS products also have great potential in business value. According to Dr. Liu, although ADAS products are the cornerstone of MINIEYE, the company is well prepared to become a provider of data collection and updating service for HD map makers.
Source: Press Release