Tech NewsAutonomous Driving System Developer MAXIEYE Secures B Round of Financing Worth $47 Million

DarylNovember 19, 2021
transportation

On Thursday, MAXIEYE, the autonomous driving modern technology and service provider, introduced that the company had actually finished a B round of financing worth 300 million yuan ($ 47 million). This round of funding was led by Huizhou Desay SV Automotive, and also adhered to by the funds of People’s Daily Online, Shanghai Open Market Zone Equity Fund, Yonghua Capital, and Changzhou Xingyu.

According to the company, this round of funds will be primarily used to supplement the large-scale mass production investment in intelligent driving products for automobile and also commercial automobiles, as well as more R&D in high-level automated driving innovation.

Founded in 2016, MAXIEYE focuses on the factory-installed mass production market of passenger as well as commercial vehicles, supplying advanced driver-assistance systems (ADAS) as well as automated driving systems (ADS) products as well as solutions, along with imaging system products required for intelligent driving.

Recently, the firm released Maxipilot 1.0, a passenger car intelligent cruise driving assistance system. This device will be mass-produced in 2 different auto brands in 2021. At the same time, Maxipilot 2.0, which sustains automatic pilot aided driving, has likewise gotten in late stage development and will certainly begin mass automation in 2022.

Li Lele, Vice President of Huizhou Desay SV Automotive, claimed, “For years, Desay SV Automotive and MAXIEYE have actually preserved a reasonably close interaction. In the future, we will collectively increase the autonomous automated driving market in the commercial vehicle field.”

In May this year, MAXIEYE finished an A+ round of financing worth 150 million yuan, which was led by Fosun Funding, adhered to by TSARI Capital and previous shareholders such as Haocheng Endeavor.

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