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NIO lidar supplier gets USD 64 million round

Lidar sensor maker Innovusion announced that it had raised USD 64 million in financing to ramp up production for Chinese electric vehicle maker Nio's ET7 sedan, which is scheduled for delivery in early 2022. Investors include Singapore state investor Temasek, venture capital firm Joy Capital, and Nio Capital. Innovusion's sensors can detect some objects up to 500 meters away and register all but the darkest objects at a distance of 250 meters. Other lidar manufacturers such as Ouster Inc. and Luminar Technologies Inc. have gone public through mergers with special purpose acquisition companies (SPAC), and Innovusion is also pursuing an IPO.


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