Recently, Tanway (探维科技) completed the A+ round of financing exceeding CNY 100 million.
Tanway was established in 2017. The core team originated from the State Key Laboratory of the Department of Precision Instruments, Tsinghua University (清华大学精仪系国家重点实验室). In 2008, it began to engage in technology research and development in the direction of lidar.
Tanway has developed the industry's only hardware-level image fusion product Tanway Fusion, which solves the reliability problem of multi-sensor fusion; at the same time, based on the self-developed ALS platform technology, Tanway created a high-performance, low-cost, easily mass-produced automotive grade solid-state lidar, which completed mass production delivery in 2019.
According to Mordor Intelligence, the global lidar market value reached USD 1,620.89 million in 2020. The market is forecast to continue its strong growth during the period from 2021 to 2026 and is expected to reach USD 7,357.63 million by 2026. The CAGR is 29.55% during the forecast period.
In addition to Tanway, several companies are competing in the lidar market. The representative companies in China include HESAI (禾赛科技), LSLiDAR (镭神智能), RoboSense (速腾聚创), and VANJEE (万集科技); internationally, Velodyne in the United States, Hexagon AB in Sweden, Sick AG in Germany, Teledyne Optech in Canada, and Leosphere in France are quite powerful.
This round of financing for Tanway was led by Cornerstone Venture Capital (基石创投) and Oriza (禾创致远), followed by GUOSEN H&S(国信弘盛) and WZ Group (物产中大投资). After the completion of this round of financing, Tanway will further increase the technical research and development of core products, and accelerate the mass production and application of vehicle-mounted lidar for diversified scenarios of intelligent driving.