4D millimeter-wave radar developer Milliverse closes Pre-A funding round

Beijing (Gasgoo)- In January 2024, Milliverse, a Suzhou-based developer of 4D high-resolution millimeter-wave radar, concluded its Pre-A funding round led by Xinke Capital, which raised for the company dozens of millions of yuan.

Photo credit: Milliverse

Since its inception in July 2021, Milliverse has successfully completed three rounds of financing, according to the Chinese corporate database Tianyancha. Xinke Capital expressed its anticipation to witness the widespread adoption of 4D millimeter-wave radar technology in the autonomous driving sector alongside Milliverse.

The core focus of Milliverse's products lies in high-channel 4D imaging radar chips, specifically concentrated in two primary directions. Firstly, high-performance MMIC designed for forward detection, delivering high-resolution and long-range detection capabilities. Secondly, highly integrated SOC aimed at cost reduction, applicable as forward or surround-view radars for applications in driver assistance and automatic parking.

Although the 4D imaging radar market is in its early developmental stage, the escalating competition in the automotive industry and the mounting pressure to reduce costs and enhance efficiency have expedited the growth of this market.

It is roughly estimated that, including the recent funding for Milliverse, at least ten domestic 4D millimeter-wave radar companies in China have secured financing since 2023, collectively surpassing billions of yuan in disclosed funding. Globally, major players such as Mobileye and Tesla have shown substantial efforts in developing 4D imaging radar chips and systems, while several Chinese automakers, including Geely, Hongqi, Changan, SAIC Motor, BYD, and Li Auto, have announced plans to incorporate or test 4D millimeter-wave imaging radar onboard since 2023.