High-precision positioning tech firm Bynav nabs funds from Bosch, GWM, Geely's investment arms

Beijing (Gasgoo)- On June 20, Chinese high-precision positioning technology developer Bynav announced the completion of a strategic investment which raised for the company hundreds of millions of yuan. 

Bynav at Auto Shanghai 2023; photo credit: Bynav

This funding round attracted leading Chinese and international automakers, new energy vehicle startups, and Tier1 industry capital, including Bosch Ventures, Great Wall Motor’s capital, Rockets Capital (a private equity fund initiated by XPeng), and a fund affiliated with Geely, among others. 

Furthermore, a fund backed by CCIG (China Capital Investment Group), FG Venture, CoStone Capital, etc. also participated in the latest financing round, which further showcases the automotive industry and capital market's strong recognition of Bynav's overall strength and commercial prospects, said the company.

As an emerging Tier1 supplier with scarce expertise in the autonomous driving industry, Bynav has been deeply involved in the high-precision positioning sector since its establishment in 2013. The company's R&D team boasts extensive experience from their involvement in the development and construction of the BeiDou Navigation Satellite System.

Leveraging its self-developed high-precision positioning chips, Bynav offers a comprehensive range of solutions, including satellite navigation, inertial navigation, integrated navigation, and vision fusion positioning SDK software packages. These solutions provide automakers and intelligent vehicle developers with high-performance and cost-effective high-precision positioning capabilities, allowing them to select products according to their specific needs.