Bosch, Lightspeed China lead $173m funding in 3D-sensor firm Hesai

Hesai Technology produces cutting-edge 3D-sensors (LiDAR) products.

China’s 3D-sensors (LiDAR) provider Hesai Technology on Tuesday announced that it has secured a total of $173 million in its Series C round of financing jointly led by German’s global leading supplier of technology and services Bosch Group, and existing investor Lightspeed China Partners.

ON Semiconductor, Qiming Venture Partners, Detong Capital and Axiom Asia Private Capital also participated in the funding round. 

Hesai claims the Series C financing is the largest so far in China’s LiDAR industry. Prior to it, Hesai raised over $150 million from notable investors such as Baidu China and ZhenFund since 2015.

Established in Silicon Valley in 2013 and relocated to Shanghai in 2014, Hesai specializes in designing and manufacturing smart laser sensor solutions for autonomous cars. Its micro-mirror and waveform fingerprint technologies include Pandar64, PandarGT, and Pandora. The pilot products are active across 18 countries with Europe and the US accounting for 60 per cent of the exports.  

Hesai has a team of over 600 professionals globally. So far, the company has owned 364 patents. California’s Department of Motor Vehicle has witnessed that over 50 per cent of the 65 certificated companies offering self-driving road test solutions are the customers of Hesai. 

Amid the economic slowdown in China, the positive move from Hesai demonstrated that LiDARs technology is significant to smart vehicles, robots, among others.

MarketsandMarkets estimated the global LiDAR market is projected to jump to $2 billion while the markets for the ADAS and driverless cars application are expected to exhibit high growth. 

China remains one of the largest LiDAR markets, which aims to innovate its self-reliant technologies and solutions. The top manufacturers include RoboSense, SureStar, LeiShen Intelligent System, BeneWake, and Hesai. 

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.