Innovusion raises $30m in Series A funding

Innovusion, a leading developer of LiDAR technology for the autonomous vehicle markets, completed US $30 million Series A funding co-led by NIO Capital and Eight Roads China and F-Prime.

On the heels of the funding, the company’s LiDAR system, the Innovusion Cheetah, is now available for ordering by customers worldwide. Innovusion Cheetah is the world’s first image-grade LiDAR system to support level 4+ (fully autonomous under certain operating conditions) autonomous driving solutions.

Innovusion Cheetah LiDAR detects objects more than 200 meters away and generates an exceptionally dense point cloud (300 lines), more than double of that of other providers in the space, while maintaining a high frame rate and achieving low-cost in high-volume production.  Proceed of the financing will be used to ramp up production to meet worldwide demand starting in Q4 2018.

In July, China ventures team co-led an investment on Pony.ai, an autonomous vehicle maker based in China.