(Yicai Global) Feb. 28 -- Benewake (Beijing) Co., a startup dealing with research and development and manufacturing of solid-state laser radars in robot eyes, has completed its round B1 financing. Funds raised will be used to advance its technology R&D and initiate mass production of its car-grade products, reported news site 36kr.com.
Cathay Capital's CarTech Fund led this financing round although the funding amount has not been disclosed. The investment will help Benewake speed up its R&D for stable and reliable laser radar products and boost development of driverless vehicles, the report said.
As a high-tech company, Benewake has achieved mass production for several products, which have been applied to a number of fields including agricultural unmanned aerial vehicles, outdoor obstacle avoidance for robots, parking lot searching, intelligent barrier gates, and sensors for vending machines.
The vehicle radar developed by the company falls into what is called Flash Lidar range, which feature relatively mature technologies and better capability for mass production. Its products won several awards including Audi Innovation Award.