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Home World Regional News Asia

Auto tech startup Minieye closes $120 million

Femi Thomas by Femi Thomas
06/09/2022
in Asia
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Minieye China

Minieye China

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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.

 

Read more on Tech Gist Africa:

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