<article>US-based LiDAR technology developer for autonomous vehicles Innovusion has raised a $30-million Series A round co-led by NIO Capital and Eight Road Ventures. The round is also joined by F-Prime Capital, said the startup in an announcement.</article>

US-based LiDAR technology developer for autonomous vehicles Innovusion has raised a $30-million Series A round co-led by NIO Capital and Eight Road Ventures. The round is also joined by F-Prime Capital, said the startup in an announcement.
“This round of funding will allow us to expand our R&amp;D team and manufacturing facilities to more quickly develop, market and deliver Innovusion Cheetah LiDAR to customers around the world, helping drive innovative perception solutions in autonomous vehicles.
“LiDAR technology is critical to accelerating the adoption and deployment of autonomous vehicles, and we look forward to working with providers and manufacturers to ensure their solutions are supported with the best-in-class technology for superior range and resolution,&#8221; said Innovusion co-founder and CEO, Junwei Bao.
LiDAR is the sensor technology that self-driving cars to efficiently detect and measure the objects on the road around them &#8211; is essential for reliable, safe Level 4+ autonomous vehicles. Innovusion will start to ship worldwide starting by year-end.
&#8220;Cheetah is one of the most advanced LiDAR sensors we have seen in the market. When looking at the robo-taxi market and the amount of testing needed, we see a strong immediate need for high performance LiDAR sensors.
&#8220;As for the OEM market, we see automakers putting more and more efforts on testing and integrating sensors for autonomous driving with more strict requirements related to cost, auto-gradability as well as performance. We strongly believe Innovusion will lead and greatly benefit from these booming markets,&#8221; said NIO Capital managing partner, Ian Zhu.
Founded in November 2016, Innovusion began shipping samples of Innovusion Cheetah LiDAR in the second quarter of 2018. Innovusion Cheetah is the first LiDAR technology to feature the unique combination of image-grade resolution and high signal-to-noise ratio required for long-distance detection.
The startup claims to have proven its technology in the two leading markets for autonomous vehicles: the US and China.
“We believe AV (autonomous vehicle) is a game-changer for the future of mobility and look forward to supporting the development of the entire ecosystem. Innovusion’s technologies has taken the bar for high-performance LiDARs to the next level, and we are honored to have the opportunity to back and work with such an outstanding team,&#8221; said Eight Roads Ventures China partner, Ted Chua.
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US-based LiDAR technology developer for autonomous vehicles Innovusion has raised a $30-million Series A round co-led by NIO Capital and Eight Road Ventures.

China: Eight Road Ventures backs Innovusion $30m Series A

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China: Eight Road Ventures backs Innovusion $30m Series A

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