Innovusion, a company specializing in the design and development of image-grade light detection and ranging (LiDAR) technology, has raised $66 million in Series B Plus financing.
The round was led by Guotai Junan International Private Equity Fund (GTJAI) with participation from Shunwei Capital. Existing investors Nio Capital, F-Prime Capital, Eight Roads Ventures and Temasek also participated in the round.
Innovusion will use the new infusion of capital to increase the production capabilities of its automotive-grade LiDARs, expand its global footprint, and further broaden its research and development efforts to promote the widespread adoption of LiDAR technology across autonomous vehicles, smart infrastructure and high-speed rail transit systems.
“LiDAR is an essential technology enabling the development and global adoption of new autonomous vehicles,” said Yuen Chiu, head of private equity at Guotai Junan International. “As more LiDAR companies enter the
