Horizon Robotics banks strategic investment from Chinese optical device maker Sunny Optical

Shanghai (Gasgoo)- Chinese AI solution provider Horizon Robotics recently announced it has obtained a strategic investment from Sunny Optical Technology (Group) Co.,Ltd. (called “Sunny Optical” for short), a leading optical device manufacturer in China, marking a further drive for the startup's deployment of intelligence businesses.

Horizon Robotics, Shunyu Zhiling signing agreements for strategic partnership

Meanwhile, Horizon Robotics entered into a strategic partnership with Zhejiang Shunyu Zhiling Technology Co.,Ltd., a subsidiary of Sunny Optical, to jointly explore automobile intelligence technologies with ADAS (advanced driver assistance system), autonomous driving and intelligent cockpit as the focus, so as to offer the auto industry highly reliably vision solutions, help OEMs stand out from their rivals, and speed up the R&D and mass production of the products related to intelligent vehicles.

“Both parties intend to co-develop auto-related intelligent products and solutions by leveraging both parties’ core strengths,” said Yu Kai, founder and CEO of Horizon Robotics. “We grasp leading technologies and experience in such areas as auto-related intelligent chips and visual perception, while Shunyu Zhiling boasts expertise of photoelectric vision products. Through the widespread and in-depth collaboration, both of us will work hard on making our joint achievements factory installed in many production vehicle models,” Mr. Yu added.

The latest investment came after Horizon Robotics announced in early Jan. it banked up to $400 million in its Series C2 financing, which is led by CATL and involved other investors like Baillie Gifford, YF Capital and CITICPE.

As of that moment, the startup had completed nearly 80% financing goal for its Series C round with $550 million raised. The investors involved in the funding round include Aspex, CloudAlpha Tech Fund, Hermitage Capital, Neumann Advisors, ORIX, Shandong Hi-Speed Capital, Yuantai Changqing Fund and CITICPE.

Horizon Robotics said the proceeds would be used to speed up the R&D and commercialization of the next-generation Level 4/5 smart automotive chips.