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Hesai Technology attracts $370m+ in D-round financing

( english.jiading.gov.cn ) 2021-11-16

Hesai Technology attracts $370m+ in D-round financing

Hesai Technology's long-range hybrid solid-state AT128 LiDAR. [Photo/WeChat account: sh-jiading]

Hesai Technology, a Jiading district-based company, received $70 million in additional financing from Xiaomi on Nov 16, increasing the total financing that it has received to over $370 million in D-round financing.

The company announced that this round of financing will be used to support large-scale mass production and delivery of hybrid solid-state lidars, the construction of its Maxwell smart manufacturing center, as well as the research and development of high-performance lidar chips that meet different vehicle regulations.

As the global leader in 3D-sensors (LiDAR), Hesai Technology launched its latest product this year, the long-range hybrid solid-state AT128 LiDAR, setting a new standard in the industry.

As a pre-production lidar, the AT128 LiDAR has received millions of orders from a number of host plants, including Lixiang, Jidu, HiPhi, and Lotus Cars. It is expected to begin mass production and delivery in 2022.

Hesai Technology has partnered with renowned original equipment makers, as well as domestic and foreign leading companies in the autonomous driving sector to boost commercial mass production for autonomous driving.

Established in 2014 in Shanghai, Hesai Technology is dedicated to manufacturing world leading 3D-sensors. It has received over $500 million in financing from Bosch, Xiaomi, Meituan, Hillhouse Group, Lightspeed, Baidu, and Qiming Verture Partners.

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