Autonomous Driving System Developer MAXIEYE Secures B Round of Financing Worth $47 Million

Autonomous Driving System Developer MAXIEYE Secures B Round of Financing Worth $47 Million

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( Source: MAXIEYE)

On Thursday, MAXIEYE, the self-governing driving innovation and company, revealed that the business had actually finished a B round of funding worth 300 million yuan($47 million). This round of funding was led by Huizhou Desay SV Automotive, and followed by the funds of People’s Daily Online, Shanghai Free Trade Zone Equity Fund, Yonghua Capital, and Changzhou Xingyu.

According to the business, this round of funds will be generally utilized to supplement the massive mass production financial investment in smart driving items for automobile and industrial lorries, along with more R&D in top-level automated driving innovation.

Founded in 2016, MAXIEYE focuses on the factory-installed mass production market of automobile and business automobiles, offering innovative driver-assistance systems (ADAS) and automated driving systems (ADS) items and options, in addition to imaging system items needed for smart driving.

Recently, the business launched Maxipilot 1.0, an automobile smart cruise driving support system. This item will be mass-produced in 2 various automobile brand names in2021 At the very same time, Maxipilot 2.0, which supports automated pilot helped driving, has actually likewise gotten in late phase advancement and will start mass production in 2022.

SEE ALSO: Chinese Self-Driving Startup QCraft Enters Into Partnership With Nvidia, Aiming to Commercialize and Mass Produce Level 4 Robobuses and Robotaxis

Li Lele, Vice President of Huizhou Desay SV Automotive, stated, “For several years, Desay SV Automotive and MAXIEYE have actually preserved a reasonably close interaction. In the future, we will collectively broaden the self-governing automatic driving market in the industrial lorry field.”

In May this year, MAXIEYE finished an A round of funding worth 150 million yuan, which was led by Fosun Capital, followed by TSARI Capital and previous investors such as Haocheng Venture.

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