Jiwei Network news, on the morning of January 10, the vehicle-grade MEMS lidar solution provider Yilu Technology officially announced the completion of hundreds of millions of yuan Pre-C round of financing. This round of financing is led by Xiaopeng Automobile, and SAIC Motor's Shangyi Capital, Dongfeng Bocom Automobile Fund and old shareholder Intel Capital continue to raise bets. China Renaissance Capital acted as the sole financial advisor for the financing.
Yijing Technology said that this round of financing will be used for the iterative development of long- and short-range full range of vehicle-grade front-loading mass-produced lidar products, strengthen production line upgrades and supply chain and total quality management, and continue to promote the research and development and commercialization of vehicle-grade MEMS lidar solutions.
Half a year ago, on June 18, 2021, Yijing Technology just completed hundreds of millions of yuan of B round financing, led by Intel Capital and Innovation Factory respectively, and China Renaissance Capital acted as the exclusive financial advisor for this round of financing.
According to the data, Yijing Technology adheres to the independent innovation and development of the underlying chips and components in the field of vehicle-grade solid-state MEMS lidar, polishes a unique MEMS technology path, and launches a MEMS long-range and short-range lidar product portfolio for mass production of vehicle specifications.
It is understood that these two products have reached commercial cooperation with a number of enterprises in the fields of autonomous driving trunk logistics, terminal distribution, unmanned ports, Robotaxi and robots, and have fixed points with a number of passenger car OEMs. Among them, in terms of trunk logistics, Yijing Technology has reached a strategic cooperation with Yingche Technology in 2020 on the commercialization of autonomous driving solutions for trunk logistics trucks, and ml series lidar is supplied to the mass production autonomous driving models of Yingche Technology Trunk Logistics. In terms of terminal unmanned distribution, Yijing Technology and JD Logistics have carried out in-depth cooperation, and the fifth generation of intelligent express delivery vehicles of JD Logistics will be equipped with a solid-state MEMS lidar ML-30s of Yijing Technology. At present, the full range of MEMS long and short range products is being steadily delivered, accelerating the pace of mass production of MEMS lidar in enterprises.
For this round of financing, Dr. Shi Tuo, founder and CEO of Yijing Technology, said: "Empowering intelligent driving and helping smart travel is our common hope and vision. We can see that the figure of solid-state lidar has spread throughout the terminal distribution, high-speed trunk logistics, unmanned ports, robots and other application fields, and the "tide of lidar" also releases a strong signal that lidar will usher in mass production prospects, which fully proves that Yijing Technology has made the right strategic choice in the research and development of solid-state MEMS technology routes and commercial landing. We are very grateful for the firm support of new and old shareholders all the way, and in the future, we will continue to increase technological innovation and product research and development efforts, and work with various partners to make driving smarter and travel safer. ”
Zhang Xiaofeng, Vice President of Xiaopeng Automobile, and Zhang Xiaoqi, Investment Director, said: "As an important safety and redundancy sensor for advanced driver assistance and future automatic driving, we recognize the efforts of the yijing team led by Dr. Shi Tuo in optimizing the transceiver structure, chipping of key devices and mass production, etc., which provides the possibility for the large-scale mass production of cost-effective vehicle-grade lidar; we also firmly believe that the yijing team will bring remarkable breakthroughs in the localization and technological innovation of the next generation of pure solid-state lidar." (Proofreading/James)