Automotive MEMS LiDAR supplier ZVision closes C financing round

Beijing (Gasgoo)- China’s auto-grade MEMS LiDAR supplier ZVision announced on November 16 the official completion of its C financing round, which raised several dozen million US dollars in total. 

ZVision Beijing Center; photo credit: ZVision

The fresh round was led by Yuanbio Venture Capital, and participated by CITIC Securities, Z&Y Capital, and Beijing Yizhuang Investment. Notably, together with the company’s Pre-C financing round, which was initiated by XPeng Inc. and participated by SAIC Motor’s Shangqi Capital, Dongfeng Motor’s Dongfeng Bocom Auto Funds, and ZVision’s existing shareholder Intel Capital, etc., the capital ZVision recently raised amounted to nearly a hundred million dollars in total.

According to ZVision, the proceeds will be put towards the iteration and development of its entire mass-produced LiDAR product line of all ranges. The company will improve its production capacity and accelerate the R&D progress of core chips. 

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.