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"NIO" invests in "Innovusion" for auto-development

Arabs Today - "NIO" invests in "Innovusion" to develop autos

Innovusion, a startup company specializing in the development of self-driving LiDAR sensor technology, has raised $ 30 million after a successful financing round led by China's rival Nio,Tesla"He said.

Nio Capital, the investment arm of Chinese company Nio, along with eight venture capital firms Eight Road Ventures and F-Prime Capital, has funded the $ 30 million sensor company to provide it with the opportunity to strengthen its capabilities, the Telegraph newspaper reported. Productivity.

Founded in California in 2016, Innovusion manufactures sensor systems using LiDAR technology, a technology for light detection and distance range measurement.

"LiDAR is the leader in self-driving vehicle development," said Jonoy Pau, co-founder of Innovusion. The company offers Cheetah, a system that can detect objects more than 200 meters away, generating images that can allow drivers to better I began testing it in the second quarter of 2018.

Electric car manufacturers such as Nio compete to develop electric vehicle technology as the future of the automotive industry, and sensors such as LiDAR promise safer driving experience for self-driving vehicles.

"When looking at the self-driving taxi market and the amount of tests required, we see a strong need for high-performance LiDAR sensors," said Ian Zhou, Managing Partner of NIO Capital.

Innovusion will use its new capital to increase the volume of R & D and production of the Cheetah model in the fourth quarter of 2018, with clear applications in Self-driving cars.

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