Yijing Technology announced the completion of a multi-hundreds of millions of yuan Pre-C round of financing led by Xiaopeng Motors

On January 10, 2022, Ichigo Technology, a provider of vehicle-grade MEMS lidar solutions, officially announced the completion of a multi-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. This round of financing will be used for the iterative development of a full range of vehicle-grade front-loading mass-produced lidar products with long and short distance of one-way technology, strengthening production line upgrades and supply chain and total quality management, and continuing to promote the research and development and commercialization of vehicle-grade MEMS lidar solutions.

After half a year, Yijing Technology has been recognized by a number of industrial investors, marking that Yijing Technology's MEMS lidar products have gradually begun to be recognized by the main engine factory, and the process of vehicle-grade mass production has gone further.

Adhering to the vision of "doing the best intelligent driving infrastructure", Yijing Technology has continued to cultivate in the field of vehicle-grade solid-state MEMS lidar, adhering to the independent innovation and development of underlying chips and components, breaking the traditional technical architecture, breaking through technical bottlenecks, polishing a unique MEMS technology path, and launching a MEMS long-range and short-range lidar product portfolio for vehicle specification front-loading mass production.

With high-quality product performance and stable mass production capabilities, 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 robotics, 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.

One-path technology solid-state MEMS lidar product line

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. ”

For this round of financing, 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 team led by Dr. Shi Tuo in optimizing the transceiver structure, chipping of key devices and mass production, which provides the possibility for the large-scale mass production of cost-effective vehicle-grade lidar We also firmly believe that the 1st Trail team will bring remarkable breakthroughs in the localization and technological innovation of the next generation of pure solid-state lidar. ”

ShangYi Capital said: "At present, automatic driving technology is ushering in a new development node, and the maturity of automatic driving technology will drive the rapid development of the lidar market. With the trend of lidar mass production and the growth of penetration rate will promote the overall scale of the industry, it is expected that the global lidar market size will reach billions to tens of billions of dollars by 2025. Solid-state and intelligent for the general trend, a trail of technology to choose MEMS lidar route, self-developed chip, the use of a unique design architecture, taking into account the detection performance and vehicle reliability, in the industry leading. Through cooperation with international first-class strategic partners, the company has comprehensively promoted the commercialization process of various scenarios of autonomous driving, won the favor of high-quality customers in many tracks, and believes that it will become a leading supplier in the field of commercial vehicles and passenger cars ADAS+L3. ”

Xiong Jiahong, deputy general manager of Dongfeng Asset Management Co., Ltd., said: "Lidar is the key track of our layout for the intelligent development of automobiles, the entrepreneurial team of one-way technology has excellent scientific research and industrial background, the company's technical route scheme and product design have been affirmed by many main engine factories and head automatic driving companies at home and abroad, and investing in one-way technology is our choice after a number of companies in the industry, I believe that after the blessing of this round of industrial capital, Yijing Technology will become an international leading enterprise in the field of lidar. ”

Leifeng Network