Beijing (Gasgoo)- On February 26, Fusionride, a Chinese smart sensor developer, officially announced that it bagged hundreds of millions of yuan in its Series Pre-A round financing.
The round was led by Zheshang Venture Capital, with participation from Beijing New Aerotropolis Fund, Zhongshan Venture Capital, Pinghu City Xinyi Venture Capital, Pinghu City Kuashan Wenhai Industrial Investment, Zhejiang Kunxin Investment, and Qiaoxin Capital.
The funds raised in this round will primarily be allocated towards the continuous iteration of Fusionride's perception fusion solutions and the further enhancement of production capabilities.
Established in September 2021, Fusionride is a core enterprise within Fosun’s intelligent mobility sector, focusing on the independent R&D as well as implementation of intelligent driving technology. This includes high-performance hardware platforms and key perception sensors such as 4D millimeter-wave radar and fusion perception technology.
Fusionride claims that its independently developed 4D millimeter-wave radar, combined with cameras, can fully replace the detection capabilities of LiDAR while significantly reducing the demand for high-performance computing power in fusion solutions.
According to Fusionride, the comprehensive upgrade of their 4D millimeter-wave radar, coupled with innovative pre-fusion algorithms, not only ensures superior perception performance and safety but also addresses the high-cost issues associated with traditional sensor configurations, making it increasingly essential for mid-to-high-end autonomous driving solutions.
In late January, Fusionride also announced securing a designated intelligent driving project from a leading automaker, where the company will deliver 4D millimeter-wave radar hardware products and corresponding algorithm development. The project's mass production cycle spans five years, with an estimated cumulative shipment volume reaching hundreds of thousands. The first vehicle model is expected to enter mass production and delivery by late 2024.
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