Zvision, a China automotive-grade solid-state LiDAR solution provider, announced its recent completion of C-round financing exceeding USD 10 Mn.
Recently, Zvision Technologies Co., Ltd (Chinese: 一径科技) (hereinafter referred to as Zvision) announced that it has secured a new C-round of financing exceeding USD 10 million (CNY 71.4 million), a couple of months after the company completed its pre-C-round of financing.
According to the public information, the investment was led by Genesis Capital (Chinese: 元生资本), followed invested by CITIC securities (Chinese: 中信证券), Z&Y Capital (Chinese: 卓源资本) and Yizhuang Capital (Chinese: 亦庄资本).
This fund will be primarily used for Zvision's AI technological development of their Solid-State LiDAR, expansion of their production capacity, R&D of automotive-grade MEMS LiDAR solution, and commercialization.
Founded in 2017, Zvision has been dedicated to the R&D of MEMS LiDARs with high resolution and high reliability. Its products are mainly used in intelligent cars, robots, smart cities and other fields of artificial intelligence.
Moreover, Zvision's LiDARs have been commercially deployed in several self-driving application scenarios, including end-of-line delivery systems, high-speed logistics self-driving trucks and Robotaxi, with partners ranging from self-driving tech firms, logistics companies to car makers, such as Jingdong Logistics, Inceptio Technology, mobileye and DeepRoute.ai.
LiDAR is an important sensor for realizing intelligent functions in automobiles, accounting for a high proportion of a single vehicle value. Mass production of LiDARs resulting from users' improving awareness and acceptance of LiDARs has allowed prices to fall, making high-specification LiDARs products available for more models. Therefore, investors are optimistic about the long-term development potential of Zvision, and the investment is believed to open up a new chapter for the intelligent automobile industry.