INSUBCONTINENT EXCLUSIVE:
Innovusion, a two-year-old startup developing LiDAR sensor technology for autonomous vehicles, has raised $30 million in a Series A funding
round co-led by Chinese firms Nio Capital and Eight Roads Ventures along with U.S.-based F-Prime Capital.Other seed round and strategic
and Germany, although it only sells its ES8 vehicle in China.Innovusion, which was founded in November 2016, says it will use the funding to
scale up its operations, specifically to ramp up production of its light detection and ranging sensor system called Innovusion Cheetah
The company began shipping samples of the system in the second quarter of 2018 and is beginning to take customer orders.The round of funding
will allow the Los Altos, California-based company to expand its RD team and manufacturing facilities to more quickly develop, market and
The company primarily is targeting customers in China and the U.S.LiDAR is used by companies developing autonomous vehicles to detect and
measure objects on the road around them
Most of the companies testing AVs believe LiDAR is an essential sensor required to deploy self-driving vehicles safely on public roads
the long-time dominant leader in the space.
