Chinese auto tech startup Minieye, a developer of intelligent driving solutions, announced Monday that it has raised $120 million in Series D.
The round was led by Chinese-French private equity house Cathay Capital, venture capital firm CICC Alpha and state-owned automaker Dongfeng Asset Management.
The Shenzhen-headquartered company develops advanced driver-assistance systems that can control, navigate and drive vehicles for human drivers.
Other investors include Nio Capital, asset management firm Harvest Investments, and Vision Plus Capital, a venture capital firm formed by Alibaba co-founder Eddie Wu
The funds raised will further consolidate the company’s leading position in the domestic mass-produced intelligent driving field, continue to expand the core technology stack, and accelerate the R&D, innovation, and commercialization of high-end autonomous driving solutions.
Minieye is one of China’s leading developers of intelligent driving solutions, focusing on the innovation and implementation of full-stack autonomous driving technology, and is committed to using large-scale mass production experience and continuous iteration of cutting-edge technologies to provide intelligent vehicles. Fully empowered.
To date, MINIEYE has reached cooperation with more than 40 auto OEMs.
Front-loading mass production customers include leading new forces such as Weilai and Nezha, as well as FAW, Geely, SAIC, BYD, JAC, Jiangxi Isuzu, Dongfeng, Liuqi , Weichai, Sinotruk, Shaanxi Automobile, Jiangling, and other mainstream traditional car companies have accumulated nearly 100 mass production projects. In 2021, the shipment of intelligent driving products will exceed 400,000 units.
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