And Fei.com, June 11, the embedded artificial intelligence autonomous driving company Moshi Intelligent Technology (Shanghai) Co., Ltd. (hereinafter referred to as “Moshi Intelligent”) announced that the company has completed hundreds of millions of yuan in Series B financing, led by Boxin Capital Investment, Rongxi Investment, Jinbang Capital, Zifeng Capital, Relay Fund, and Arima Capital followed the investment. This round of financing funds will be mainly used for the research and development of new products and the mass production of existing products, promote the productization of L3 autonomous driving, deepen the research and development of L4 autonomous driving technology, and accelerate the mass production of autonomous driving products.
Based on the original ability of algorithms at the international level, Movision has the core technology of full-stack autonomous driving from algorithms, software to hardware, covering perception, fusion, positioning, planning, control, etc., and can respond to various levels of autonomous driving, multiple scenarios and Functional requirements.
Since the completion of the 100 million yuan A2 round of financing in 2020, Magic Vision has made breakthroughs in product development and mass production:
Passenger car pre-installed products have been mass-produced or delivered in 5 of the top 10 domestic OEMs, and they have cooperated with the other 4 of the 10 in pre-research projects, covering automatic parking and memory parking , Mainstream applications such as valet parking;
Among the leading commercial vehicle OEMs in China, auxiliary automatic driving systems that support dual-warning, AEB, etc. have obtained multiple fixed points and delivered in large quantities;
In addition, in the large-scale vertical market of active safety for commercial vehicles, Movision is firmly ranked first in the industry, and software and hardware products are empowering more than 70% of customers in the industry.
Magic Vision has become the only autonomous driving company in China that holds a leading position in the three key markets of passenger car front-mounted equipment, commercial vehicle front-mounted equipment, and active safety and intelligent in-vehicle equipment. The company’s goal of mass production of 1 million sets of autonomous driving and active safety products in three years established in 2020 is expected to be completed before the end of 2021.
Lu Weiming, a partner of Boxin Capital, said: “Although the autonomous driving industry is difficult to enter and has a long cycle, its advantage lies in clear market expectations. Moshi has leading technology and stable and profitable products and business models, and it has very Strong landing and delivery capabilities. Since the last round of investment, Moshi Intelligent business has progressed rapidly, exceeding expectations. We are full of confidence in the future development of Moshi Intelligent!”
Wang Rongjin, senior partner of Jinbang Capital, said: “Movie Smart’s products have been or will be installed on the main models of nearly 20 domestic head OEMs in the next year. Faced with a large number of orders, MOVision Intelligent is located in Nantong, Jiangsu. An automated factory has been built. I look forward to the early achievement of the goal of 1 million sets of mass production of Magic Vision!”
Yang Xiaoning, the founding partner of Zifeng Capital, said: “The automotive industry is now ushering in a major change that has not been seen in a century. The intelligentization and networking of automobiles has become a trend. The super strong management and technical team of Magic Vision has left us a deep impression. Impressions, academics and industries are compounded, with vision, artificial intelligence, embedded products, automotive engineering backgrounds, etc., opening up the entire industrial chain.”
Relay Fund Partner Yu Daokong said: “Movision’s core algorithm-based, multi-product business division model can quickly replicate and continuously expand the application fields of its core technology, occupy the main market of autonomous driving, and develop in business. The process showed strong tension. We look forward to more achievements in the expansion of the business territory of Movision!”
Yu Zhenghua, CEO of Magic Vision, said: “We are very honored to be favored by investors such as Boxin Capital, Rongxi Investment, Jinbang Capital, Zifeng Capital, Relay Fund, and Huayu Capital. Along the way, Magic Vision has won many upstream and downstream partners. With the support of the company, we look forward to closer cooperation with more industry partners in the future and move forward hand in hand!”
Mosee Intelligent was established in 2015 and is a provider of safe driving solutions. Relying on the original ability of algorithms at the international level, Movision has the core technology of full-stack autonomous driving from algorithms, software to hardware, including perception, planning, fusion, positioning, control, etc., and meets all levels and functions of autonomous driving. And the needs of multiple scenarios.
With the completion of this round of financing, Magic Vision will expand its R&D centers in Shanghai, Shenzhen, Suzhou, and Australia and its manufacturing centers in Nantong, accelerate the development of core technologies and products for autonomous driving, and strengthen its localized support for customers And services, and continue to promote the mass production of autonomous driving.
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