Zvision, a Sinovation Ventures-backed start-up specializing in the development of automotive-grade MEMSLiDAR, has closed a Series C funding round worth tens of millions ofdollars. Genesis Capital led the financing round, with participation fromCITIC Securities Investment, Z&Y Capital, and Yizhuang Equity Investment Fund Management. Zvision's recent funding, including investment raised in the Pre-C Series, has now reached almost $100m. The Beijing-based firm is committed to providing high-performance, high-reliability, and mass-produced automotive-grade MEMS LiDAR products and empowering smart cars, robotics, smart cities, and other AI applications with reliable wide viewing angle, long-distance, and high-resolution 3D depth vision capability. The recent funding will be used to iterate on Zvision's full range of automotive LiDAR products, accelerate core chip development and expand production capacity.
Sinovation Ventures' Partner, Dr. Eagle Zhang, stated that solid-state LiDAR has been a significantpart of autonomous driving and has always been a part of their watch list. Recently, Zvision's MEMS solid-state LiDAR has made remarkable progress in R&D and commercial lending, gaining market recognition for its production capacity, cost-effectiveness, and reliability. The founding team, led by Dr. Shi Tuo, is described as visionary and action-oriented by Dr. Zhang, and he believes that they possess the ability to drive innovation and take the company further on the road of intelligent driving.
Zvision, a trailblazer in the Chinese automotive-gradeMEMS LiDAR space, has secured a significant amount of funding to advance its product range, core chip development, and production capacity. The company, established in 2017, is dedicated to providing cutting-edge, high-reliability, and mass-produced automotive-grade MEMS LiDAR products. Its wide viewing angle, long distance, and high-resolution 3D depth vision capability are instrumental in enabling smart cars, robotics, smart cities, and other AI applications. Zvision's core team boasts experts from top-tier universities such as Tsinghua University, Fudan University, Cornell University, and the Chinese Academy of Sciences, and well-known companies such as Bosch, Hisense, and Ericsson. Its founder and CEO, Dr. Shi Tuo, brings more than ten years of experience in the development and industrial success of integrated optoelectronic chips to the table.
Over the past five years, Zvision has launched a range ofMEMS LiDAR complete solutions, satisfying customer needs for long-range, medium-range, and large-field-of-view applications. The company's products have been certified by several important international standards and have undergone the entire automotive verification process, including winter and summer testing. In critical segments such as automotive, AGV robotics, and Robotaxi, Zvision's products have secured commercialization and won orders from leading customers. The company has also been honored with the title of National High-tech Enterprise and Beijing Zhongguancun High-tech Enterprise and has patents for its core technologies.
Dr. Shi Tuo stated that the financing would acceleratethe development of Zvision's full range of automotive LiDAR products, improve core chip development, and expand production capacity. The company aims to continue exploring the field of automotive-grade MEMS LiDAR, innovate the best infrastructure to enable autonomous driving, and collaborate with partners to usher in a new era of smart driving. The success of this funding round holds strategic significance for the company's future as it can continue to invest in mass production and improve its business ecosystem. Furthermore, the funding provides the confidence to continue innovation and improve product performance by developing underlying chips and components.