XPeng leads China’s LiDAR supplier ZVisions’ Pre-C investment round
Beijing (Gasgoo)- China’s auto-grade MEMS LiDAR supplier, ZVision announced that it has completed its Pre-C round of financing, led by XPeng Inc., with hundreds of millions of RMB raised.
ZVision Beijing Center; photo credit: ZVision
Other participants in this investment round include, SAIC Motor’s Shangqi Capital, Dongfeng Motor’s Dongfeng Bocom Auto Funds, and ZVision’s existing shareholder, Intel Capital.
According to ZVision, the funds will be put towards the iteration and development of its entire mass-produced LiDAR product line of all ranges. The company will improve its product line and enhance quality control, keep on pushing the R&D and commercialization of auto-grade MEMS LiDAR solutions.
Notably, Intel Capital has already led the company’s B1 round of financing in June 2021, through which the company also raised hundreds of millions of RMB.
Founded in 2017, ZVision is one of the early developers of automotive solid-state MEMS LiDARs. The company strives to build high-performance, small-sized integrated and mass-producible LiDAR products, providing artificial intelligence applications, namely autonomous driving and robots with 3D depth vision consisting of stability, wide viewing angle, remote distance, and high resolution.
Currently, ZVision has perfected an exclusive MEMS technical approach, launching an auto-grade long/short range MEMS LiDAR product portfolio for mass-production.
The products have landed the company several contracts in the autonomous trunkline logistics, terminal delivery, crewless port, Robotaxi, and robotics fields, as well as procurement orders from multiple passenger vehicle makers.
In 2020, ZVision cooperated with China’s autonomous trunkline logistics developer, Inceptio.ai, deploying its ML series LiDARs on the latter’s mass-produced autonomous driving vehicles.
Moreover, China’s e-commerce giant JD.com’s fifth-generation terminal delivery vehicles will also be equipped with ZVision’s ML-30s solid-state LiDARs.
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