Autonomous Driving Company Claims Historic Funding Gain

Oct. 15, 2018

RoboSense, a specialist provider of autonomous driving LiDAR products, has announced the completion of what it says is China's largest-ever single round of financing for a LiDAR company.

October 15, 2018—RoboSense, a provider of autonomous driving LiDAR products, has received funding of over $45 million, according to a report by Just Auto.

The funding came from Cainiao Smart Logistics Network, SAIC Motor Group and BAIC Group.

With a claimed 'over 50 percent market share of all LiDAR sold in Asia', RoboSense says it is the market leader in the region, according to the report. The funding will be used to increase solid-state LiDAR, artificial intelligence sensing algorithms and other advanced technologies.

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