China’s MEMS developer Asensing finishes C-round investment

Beijing (Gasgoo)- China’s intelligent driving MEMS solution provider, Guangzhou Asensing Technology Co., Ltd. (Asensing), announced the completion of its C-round of financing led by Sequoia Capital China.

The INS570D system; photo credit: Asensing

The company received hundreds of millions of RMB from Sequoia Capital China, Matrix Partners, GLVentures, and existing shareholders, including SDIC Fund, Yuexiu Industrial Fund, and Vinno Capital.

According to the company, the funds will be put to develop next-generation functional and safe, high-precision positioning technology, improving product design ability, and expanding production. After this round of investment, the annual delivery capability of Asensing will be elevated to millions of units. In the meantime, the company intends to continue improving its client services.

High-precision positioning technology is a crucial component of a safe, intelligent driving experience, providing accurate PNT (positioning, navigation, and timing) under all ODD circumstances. Through innovative deep research and development, Asensing is pushing forward the new standard of advanced assistant driving positioning safety definition within the industry.

As of now, Asensing’s high-precision integrated positioning system has passed the ISO 26262 ASIL-D safety standard. Clients to the company include several major auto manufacturers in China, serving over 30 intelligent vehicle models.

Asensing has been providing high-performance, quality-made high-precision integrated positioning products for passenger vehicles since 2018. By the end of August 2021, the company has delivered 100,000 units of the said product, realizing over tens of millions of kilometers of on-road mileage through its clients.