On August 13, Innovusion, the world’s leading lidar manufacturer, recently raised another $66 million in financing.
This B+ round of financing was led by Guotai Junan International Private Equity Fund, followed by Shunwei Capital. The original investors NIO Capital, Temasek and Eight Roads also participated in this round of investment.
This round of financing will be mainly used to support the mass production and delivery of the NIO ET7 lidar for front-loading mass production, as well as the technology self-research and innovation projects that Innovusion continues to focus on and invest in. This follows the news of the $64 million Series B round announced in May this year.
Founded in 2016, Innovusion has core R&D teams in Silicon Valley, USA and Suzhou, China. Its image-level long-range lidar is in a leading position in the autonomous driving industry, and its products are also widely used in vehicle-road collaboration, rail transit, smart high-speed, and unmanned mines. Cards and security and other fields.
The company’s products used in the field of autonomous driving have been verified to pass the vehicle regulations and can meet the needs of L3+ autonomous driving. At present, it has cooperated with NIO in China and has become the standard mass production of NIO’s ET7 autonomous driving super-sensing system. With the advancement of technology and the controllability of cost, there are many leading enterprises in the Internet of Vehicles, rail transit, smart expressway, unmanned mining trucks, and security industries that are actively cooperating.
From the perspective of the team, the company’s founders and key members of the R&D team are mainly from world-renowned universities such as Peking University, Tsinghua University, MIT, California Berkeley, etc. They have senior business experience and are devoted to the exploration and innovation of lidar.
Co-founder and CEO Dr. Junwei Bao graduated from Berkeley, California, majoring in electrical engineering. He has more than 20 years of experience in precision instruments and optical sensors. At the same time, he has rich experience in technical enterprise management. He has served as Baidu’s autonomous driving sensor and in-vehicle computing team. Head and Vice President of Electronic Engineering in Tokyo.
Innovusion’s professional team is expanding rapidly to better serve customers, adapt to the vigorous growth of the market, and become the backbone of the continuous development of autonomous driving and smart transportation.