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Jul 10, 2023

Minieye tops up Series D for autonomous driving tech

Autonomous driving technology specialist Minieye has topped up its Series D

Autonomous driving technology specialist Minieye has topped up its Series D funding round, bringing the total to more than $120 million.

The investment in the China-based company was led by Cathay Capital, with Jinning Fund and Shenwan Hongyuan also participating.

The announcement comes after the company announced its Series D2 round in February, with the company saying the funds will boost its position in the "domestic mass production of intelligent driving" as well as the further development of its technology stack.

Liu Guoqing, founder and CEO of Minieye, says: "The autonomous driving industry is developing continuously with the help of comprehensive factors such as policies and markets. The completion of this D round of financing not only reflects investors' optimism about the industry's prospects, but it also reflects the high recognition of Minieye's comprehensive capabilities such as cutting-edge technology, core team, development strategy, growth potential, etc."

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Minieye joins a number of autonomous driving tech companies including May Mobility, Momenta, Wayve and 42dot that have attracted significant investment in recent months as they look to expand and scale.

The travel industry is also beginning to explore the potential for autonomous vehicles in tourism.

During a recent PhocusWire Pulse: Green Light for Ground Transportation event, Alex Bainbridge, CEO of Autoura, discussed how the rollout of autonomous vehicles could be the next frontier for the tours and activities segment.

Watch the full interview below: