Recently, Yijing Technology officially completed the round C financing of tens of millions of dollars. This round of financing is led by Yuansheng Capital, followed by CITIC Securities Investment, Zhuoyuan Capital and Yizhuang Capital.
In combination with the early stage of Star Airlines Capital, SAIC Shangqi Capital, Dongfeng Bank of Communications Industry Fund, Guoqi Investment, and the Pre C round jointly invested by the old shareholder Intel Capital and Innovation Works, Yijin Technology has raised nearly 100 million dollars recently.
Established in 2017, Yijin Technology is a pioneer in the research and development of vehicle gauge level MEMS laser radar in China. It is committed to providing high-performance, highly reliable and mass produced vehicle gauge level MEMS laser radar products, and providing reliable, stable, wide viewing angle, long-distance and high-resolution three-dimensional perception capabilities for intelligent vehicles, robots, smart cities and other artificial intelligence applications. The core team members of the company come from well-known universities at home and abroad, such as Tsinghua University, Fudan University, Chinese Academy of Sciences, Cornell University, Madrid Institute of Technology, and well-known enterprises such as Osram, ADI, Ericsson, Hisense, Bosch, etc. As an expert in integrated optoelectronic chips, Dr. Shi Tuo, CEO, has more than ten years of successful experience in integrated optoelectronic chip research and development and industry.
Since its establishment for five years, Yijing has successively launched a series of MEMS lidar solutions covering the needs of long range, medium range, large angle of view, etc. The product has passed the certification of several important international standards, and has gone through all the vehicle gauge verification processes such as winter test and summer test with the customer. At present, it has been commercialized in many key subdivisions, such as automobiles, AGV robots and Robotaxi, and has successfully obtained orders from relevant leading customers. In addition, Yijing Technology has successively won the titles of National High tech Enterprise, Beijing Zhongguancun High tech Enterprise, etc., and has a large number of core technology patents.
This round of financing will be used for the iteration of Yijing Technology's long and short distance full series of vehicle gauge level front loading mass production lidar products, accelerate the progress of core chip self research, expand capacity, and promote the development and commercialization of vehicle gauge level MEMS lidar solutions.
Shi Tuo, CEO of Yijing Technology, said:
Since its inception, Yijing Technology has insisted on facing the laser radar market with high performance, high reliability and mass production. In the past two years, Yijin Technology has been the fastest growing start-up company in the field of lidar. The company has made significant progress in product research and development, core team building, and capacity improvement.
This round of successful financing is of strategic significance for Yijin's future development. On the one hand, we can continue to invest in the direction of front loading and mass production, and improve the business closed loop; On the other hand, it also gives us more confidence and confidence to persist in the continuous innovation of the underlying chips and components, and continuously improve the product performance.
In the future, Yijing Technology will continue to adhere to the vision of "making the best intelligent driving infrastructure", continue to deepen its efforts in the vehicle specification level MEMS laser radar field, and work with ecological partners in various industries to meet the new stage of intelligent driving development.
Peng Zhijian, founding partner of Yuansheng Capital, said:
Intelligent electric vehicles are an area that Yuansheng Capital continues to pay attention to. Laser radar is an important sensor for vehicle intelligence. The value of a single vehicle is high. With the increase of penetration rate of front mounted high-level automatic driving, the market is at a major turning point.
Yijin Technology is a leading MEMS lidar company at the vehicle specification level in China. It adopts a differentiated technology route. Its core team comes from well-known companies in the industry. It has in-depth academic accumulation and first-line industry practice in complex photoelectric systems. At the same time, it continues to strengthen independent research and innovation in the core chips and components at the bottom. Its products have made commercial breakthroughs in many fields. We are optimistic about the long-term development potential of Yijing Technology and promote the development of the automotive intelligent industry to a new stage.
Source: Yijing Technology
