NIO-backed fund invests in MINIEYE's D3 round

Beijing (Gasgoo)-

On June 6th, China’s intelligent driving solution provider, MINIEYE, announced the completion of its D3 investment round, closing the entire Series D with RMB800 million ($120.25 million) raised.

Photo credit: MINIEYE

The D3 round was led by Cathay Capital and followed by a NIO Capital’s sub-fund and Shenwan Hongyuan Group.

The funds raised in Series D will help MINIEYE further strengthen its leading position in China’s mass-production intelligent driving technology field, expanding its core technology stack, accelerating the R&D of high-level autonomous driving solutions, and pushing forward commercialization.

Founder and CEO of MINIEYE, Liu Guoqing, said that the completion of Series D signified investors are upbeat about the development prospect of the autonomous driving market and think high of MINIEYE’s technology, team, strategy, and potential in the field. MINIEYE plans to adhere to its progressive development strategy, gradually branch out to higher levels of autonomous driving, and form profound relationships with more partners via flexible commercialization models.

The company currently holds a product portfolio in four aspects, L0-L2 ADAS and iSafety solution, L2+/L2++ intelligent pilot assistant solution iPilot, smart cockpit perception & interaction solution iCabin, and crowdsourcing high-precision map service iMap.

MINIEYE has formed partnerships with over 40 automakers, including NIO, HOZON Auto, Geely, BYD, FAW Group, and SAIC Motor, accumulating nearly a hundred mass production projects. In 2021, the company delivered more than 400,000 sets of intelligent driving products annually.