Hesai Technology announced the completion of more than US$300 million in Series D financing investors include Hillhouse Ventures, Xiaomi, Meituan and CPE. At the same time, participating in this round of financing are Huatai USD Fund, as well as old shareholders Lightspeed China, Lightspeed Global, Qiming Venture Capital and so on.
The financing will be used to support the mass production and delivery of hybrid solid-state lidars for front-loading mass production (has been designated by multiple OEMs), the construction of Hesai Maxwell’s intelligent manufacturing center, and automotive-grade high-performance lidar chips R&D.
As the lead investor in this round of financing, Hillhouse partner and head of Hillhouse Ventures Software and Hardware Technology Huang Liming said: “As the core sensor of autonomous driving, lidar directly affects the development speed and level of the autonomous driving industry. With deep technical accumulation and years of deep cultivation, the Hesai team has provided the market with innovative sensor solutions that take into account high performance, low cost, strong stability and mass production. At the same time, we see that the downstream application scenarios of lidar are increasingly Rich, automobiles, robots, industry, etc. will be the stage for this technology to show its talents. Hillhouse is deeply convinced of the industrial transformation driven by technological innovation. We also believe that Hesai Technology will seize this historic opportunity and rely on its consistent Innovative courage and spirit of struggle will continue to create value for customers and the industry.”
Xiaomi is an Internet company with mobile phones, smart hardware and IoT platforms as its core. Xiaomi’s mission is to always insist on making good products that are “touching people’s hearts and fair prices”, so that everyone in the world can enjoy the beautiful life brought about by technology. As a company in the laser radar subdivision track, Hesai has always used its products well to speak, and has deep accumulation in related technology research and development. In the future, the application field of lidar is very broad, and it is hoped that Hesai will continue to use top-notch products to enable broader scenarios.
Zhu Wenqian, Vice President of Strategy and Investment of Meituan, said: “Meituan Investment has always pursued long-term value investment and firmly believes that good technology and good products can be extended from life scenarios to the layout of the industrial chain. Autonomous driving is brought about by technological innovation. The quality of life is improved, and then to the value track that opens up the industry chain. As the “eyes” of autonomous driving, Hesai is traction and boosting the advancement of the industry with its excellent technology and high-quality products. Meituan is very optimistic about the industry. Excellent partners of the chain, such as companies like Hesai Technology, have established and carried out long-term and in-depth cooperation.”
CPE Chief Information Officer He Yongbin said: “Autonomous driving technology has entered the fast lane, and front-mounted lidar will become the standard for high-level automated driving. As a global lidar company, Hesai has had high-performance lidar products in the past few years. It has been recognized by autonomous driving companies and OEMs. We believe that Hesai will continue to lead the industry in the future and provide continuous driving force for the development of the autonomous driving industry with outstanding lidar products.”
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