Intelligent Driving Firm MINIEYE Completes D2-Round Financing

Smart vehicle technology firm MINIEYE announced on Monday that it has completed a D2 round of financing worth several hundred million yuan. The investors were CDB Manufacturing Transformation Fund, Unicom CICC, Changde Emerging Industry Fund under CICC Capital, Chongqing Kexing Kechuang Equity Investment and OFC.

The funds raised in this round will be mainly used to consolidate the company’s leading position in the field of mass production of intelligent driving products, and to accelerate the R&D of high-level autonomous driving.

MINIEYE was established in 2014, and its products include L0-L2 advanced driver assistance system “iSafety,” L2+ and L2++ intelligent pilot system “iPilot,” and intelligent cockpit sensing and interaction unit “iCabin.”

Among them, iPilot was officially released on December 21 last year. The scheme was developed based on Huawei’s MDC 610 platform, and adapted seven cameras, five millimeter wave radars and two lidars. At present, the scheme has been designated for projects from two automobile makers.

Up to now, MINIEYE has won orders from FAW, Geely, SAIC, BYD and other electric vehicle makers. It is estimated that MINIEYE’s shipment volume would reach 400,000 units in 2021.

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Liu Guoqing, the founder and CEO of MINIEYE, said that due to the increasing needs of Tesla and other automotive startups, L2+ and L2++ intelligent driving functions will become the mainstream demand in the next three to five years, which is also an important field for MINIEYE to explore.