Xiaomi has re-upped its commitment to the lidar chip developer through a $70m extension, having already co-led the round's first tranche five months ago.
China-based light detection and radar (lidar) technology developer Hesai Technology received $70m in from consumer electronics provider Xiaomi yesterday to take its series D round to $370m.
Xiaomi had joined local services platform Meituan, hedge fund manager Hillhouse Capital’s GL Ventures unit and Citic’s CPE subsidiary to co-lead a $300m first tranche of the round in June this year.
The initial close also featured Lightspeed Venture Partners and its China-based vehicle Lightspeed China Partners, in addition to Qiming Venture…
