Zvision Bags Hundreds of Millions of Yuan in Pre-C Financing Led by XPeng
Zvision, a provider of vehicle-level MEMS (Micro-Electro-Mechanical Systems) lidar solutions, announced on Monday its completion of several hundred million yuan in a Pre-C round of financing, led by XPeng Motors and followed by SAIC Group’s Shangqi Capital, Dongfeng Bank of Communications Auto Fund and previous shareholder Intel Capital. China Renaissance acted as exclusive financial adviser for this financing round.
The fresh funds will be used for lidars’ pre-loading and mass production, the strengthening and upgrading of production lines, supply chain and quality management, and to continuously promote the R&D of MEMS lidar solutions.
Founded in November, 2017, Zvision has been deeply involved in the field of MEMS lidar, and also on the independent R&D of underlying chips and components. The company has cooperated with many enterprises across the fields of autonomous logistics, terminal distribution, unmanned ports, Robotaxis and robots.
In terms of logistics, it has reached a strategic cooperation with Inceptio Technology on the commercialization of automatic driving trunks in 2020. In terms of terminal distribution, it has carried out in-depth cooperation with JD Logistics. The fifth generation of intelligent express vehicles of JD Logistics was equipped with Zvision’s MEMS lidar – ML-30s.
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Shi Tuo, founder and CEO of Zvision, said, “Solid-state lidar has been applied to various fields. The application of lidar on electric vehicles has also released a strong signal that lidar will usher in mass production prospects.”