Minieye, Chinese startup in auto technology has raised $120 millions in Series D funding

Minieye, an auto startup that is based in China, has announced Monday that it raised $120 Million in Series D. 

Cathay Capital, CICC Alpha Venture Capital, and Dongfeng Asset Management, Chinese-French venture capital firms, were the leaders of the round. 

The Shenzhen-headquartered company develops advanced driver-assistance systems that can control, navigate and drive vehicles for human drivers. 

Other investors include Nio Capital and Harvest Investments asset management company Harvest Investments. Vision Plus Capital was founded by Eddie Wu, Alibaba’s co-founder, to provide venture capital.

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.

MINIEYE has partnered with over 40 OEMs to date. 

Leading new forces like Weilai or Nezha are front-loading mass production customers. FAW, Geely and SAIC as well as FAW and Geely, SAIC and BYD, JAC and Jiangxi Isuzu, Dongfeng and Liuqi, Weichai and Sinotruk, Shaanxi Automotive, Jiangling and other traditional mainstream car companies have nearly 100 mass production projects. The shipment of intelligent driving products is expected to exceed 400,000 units by 2021.

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