The lidar technology startup has secured funding in a series A round co-led by Nio's corporate venturing arm and Fidelity's Eight Roads Ventures and F-Prime Capital units.
Nio Capital, the strategic investment arm of smart electric vehicle producer Nio, has co-led a $30m series A round for US-based light detection and ranging (lidar) technology developer Innovusion.
The round was co-led by two subsidiaries of investment and financial services group Fidelity, with Eight Roads Ventures investing in China and sister unit F-Prime Capital in the US.
Founded in late 2016, Innovusion has created a lidar system known as Cheetah that can support level four-plus autonomous driving software, the…
