Chinese intelligent visual sensing products and solutions developer METOAK has secured nearly 100 million yuan ($15 million) in its Series A+ round led by semiconductor industry focused investment firm CTC Capital, the lead investor announced on Wednesday.
It attracted returning investors namely Shenzhen Capital Group and Tendence Capital.
METOAK, which started operations in 2017 in Beijing, is engaged in the production of stereoscopic visual sensing chips and services. Its offerings are widely used for advanced driving assistance system (ADAS), autonomous vehicles, service robots, drones, among others.
It claims that the ADAS-based chips are under mass production. It is expected to sell up to 500,000 chip products.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on November 22 – 24, 2021.