LiDAR maker tanway bags over 100 million yuan in Series A+ financing

Beijing (Gasgoo)- Chinese LiDAR maker tanway recently announced the completion of its A+ funding round, raising over 100 million yuan.

Photo credit: tanway

The round was jointly led by Cornerstone Ventures and a fund under Oriza Holdings. This latest funding marked the company’s fourth financing round closed so far, which brings tanway's total financing value to several hundred million yuan. 

With this injection of funds, tanway aims to bolster the technical development of its core products, accelerating the mass production application of its automotive LiDAR systems in diverse intelligent driving scenarios.

The company is committed to delivering high-performance, cost-effective, and easily mass-produced solid-state automotive LiDAR products. These systems can be applied across various intelligent driving and ADAS scenarios, ranging from commercial vehicles to passenger cars, providing comprehensive and precise perception capabilities for intelligent vehicles.

In 2022, tanway, in partnership with HYCAN, unveiled the mass-produced LiDAR-mounted MPV, the V09. During the 2023 Auto Shanghai, tanway introduced its "Optical Variability Plan," presenting an integrated perception solution, and officially announced its second factory-installed passenger car scale mass production collaboration platform.