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Chinese autonomous driving startup Hyperview bags additional investment from Prosperity7 Ventures

Monika From Gasgoo| May 26 , 2023 16:49 BJT

Shanghai (Gasgoo)- Hyperview (also known as Hongjing Drive), a Chinese autonomous driving solution provider, today announced it has received additional investment of tens of millions of yuan from Prosperity7 Ventures, a diversified growth fund under Aramco Ventures.

This marks another show of support from Prosperity7, following its exclusive investment of over 100 million yuan in Hyperview's strategic financing in February 2022.

The additional investment from Prosperity7 has now been finalized.

Chinese autonomous driving startup Hyperview bags additional investment from Prosperity7 Ventures

Photo credit: Hyperview

The proceeds from the fresh round will be used for the development of Hyperview's next-generation ADAS (advanced driver assistance systems) and high-level autonomous driving solutions, as well as expanding production capacity to meet the growing demand for autonomous driving business from major automakers. Hyperview said it will continue to cater to both passenger and commercial vehicle markets, offering technologically advanced and exceptional driving solutions.

As a globally-oriented capital firm, Prosperity7 will leverage its unique network and resources in the Middle East and even around the world to support Hyperview's global expansion and accelerate its globalization process.

Backed by Saudi Aramco, a world-leading integrated energy and chemicals company, Prosperity7 engages in investments globally, focusing on significant technological achievements and transformative business opportunities that contribute to broad prosperity and positive impact. Hyperview is an important investment target for Prosperity7 in the intelligent driving industry and currently the only Chinese intelligent driving technology company in its investment portfolio.

Hyperview is actively developing advanced intelligent driving solutions while also solidifying its presence in the mass production of intelligent driving systems.

At the Auto Shanghai 2023, Hyperview unveiled its cutting-edge intelligent driving system solution based on next-generation BEV perception technology. Powered by high-performance chips and advanced software algorithms, the solution achieves a "heavy perception, light mapping" approach to intelligent driving, said the company.

Furthermore, Hyperview is actively improving its data-driven closed-loop cloud platform, aiming to continuously enhance its software algorithm capabilities, improve the intelligent driving system experience, and better serve its clients.

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