RoboSense announced the completion of China’s largest-ever single round of financing for a LiDAR company – a combined investment of over $45M (RMB 300 million).

The strategic funding is provided by technology and industry leaders, including Cainiao Smart Logistics Network, SAIC Motor Group and BAIC Group.

From previous financing rounds, RoboSense already has secured backing from auto manufacturing, financial brokerage, and artificial intelligence (AI) companies, including Haitong Securities, Fosun Group, Oriental Fortune Capital, Kinzon Capital, and Guangdong Investment Pte Ltd.

The funding will be used to increase RoboSense’s market share and the R&D of autonomous vehicle technologies, including its solid-state LiDAR, AI sensing algorithms, and other advanced technologies, as well as accelerating product development, long-term manufacturing and market penetration.