On November 18, MAXIEYE, a core technology service provider for intelligent driving and smart transportation in China, announced that it had completed a B round financing of 300 million yuan.
The B round financing was led by Desay SV Automotive, with follow-on investments from funds under People’s Daily Online, Shanghai Free Trade Zone Fund, and Yonhuar Investment, and an increase in holdings by existing shareholder, Starlight Automotive Lights. The funds raised in this round will mainly be used for the scaled-up production and landing of intelligent driving products for passenger and commercial vehicles, as well as for further research and development reserves for high-level autonomous driving technology.
Not long ago, MAXIEYE released its first L2 level full-speed intelligent cruise ADAS product, MAXIPILOT®1.0, targeting the passenger vehicle market. It is understood that this is the first L2 level ADAS product in China based on independent vision perception + control stack self-developed technology. Moreover, the most important aspect of MAXIPILOT®1.0 is its affordable price, which can meet the needs of a wider range of consumers and be installed in 100,000-yuan level vehicle models.
MAXIPILOT®2.0, which supports integrated parking and is capable of autonomous navigation and assisted driving functions, will be put into mass production in 2022 as a higher-level product.
Source: MAXIEYE
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