Intelligent Driving Firm MAXIEYE Receives Series C1 Investment
MAXIEYE, an intelligent driving company, announced on August 8 that it has obtained a C1 round of joint strategic investment from Inno-Chip, Cedarlake Capital and Axera. The investors will cooperate in terms of strategic resources and the joint creation of value for auto intelligence and future travel.
The funds are mainly used to be invested in the R&D of higher-order technologies for intelligent driving and supply chain reserves for the mass production of passenger cars above L2.
In November 2021, MAXIEYE secured 300 million yuan ($44.4 million) in round-B financing with Huizhou Desay SV Automotive as the leading investor. In May 2021, the company secured 150 million yuan in round-A+ financing, which was led by Fosun Capital, followed by TSARI Capital. Its existing shareholders such as Shanghai Zhangjiang Haocheng Venture Capital Co., Ltd., Shanghai Zhangjiang Technology Venture Capital, Lu’an Yuke Equity Venture Capital Partnership and Shengyu Investment also joined that round.
Founded in 2016, MAXIEYE provides Advanced Driving Assistance System (ADAS) and autonomous driving system (ADS) products and solutions, and covers L0-L4 technology and service closure, mainly for the passenger car and commercial vehicle front-end mass production market.
MAXIEYE has now achieved large-scale business implementation in both passenger car and commercial vehicle fields. In the passenger car field, the company focuses on two product lines of cost-effective L2 and high-level intelligence, and has released “MAXIPILOT1.0&PLUS” full series product solutions, with full-speed intelligent cruise and NOM pilot assist as optional solutions.
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The firm achieved mass production of L2 driver assistance systems on two independent brands in 2021, and expects to achieve mass production of L2+ driver assistance systems for more passenger car brands this year.
Within a year, the company says it will continue to promote the scale up of L2, and it also will build a next-generation advanced intelligent driving technology platform driven by data and BEV (Bird’s Eye View). Based on advanced intelligent driving technology and integrated central hardware and software architecture, it will lay out next-generation core technologies and solutions for more complex applications, greater computing power, and more complicated scenarios.
In the field of commercial vehicles, MAXIEYE has transformed from regulation-driven safety-oriented products to market-driven intelligent solutions, with hundreds of thousands of sets shipped and over 80% customer brand share.
Also within the year, MAXIEYE will work with heavy-duty truck companies, logistics solution providers and others to deploy truck autopilot for scenarios such as trunk logistics to achieve L0-L4 technology and service closed loop.