Beijing (ZXZC)- Shenzhen-based integrated circuit developer Fortsense announced on December 12 the completion of its Series C financing which raised for the company several hundred million yuan. 

Photo credit: Fortsense

The fresh round was led by Chengdu Science and Technology Venture Capital, and participated by BAIC Capital, Hui Capital, Shenzhen Jiufite Private Equity Investment, and others. According to Fortsense, the proceeds will be mainly used on the R&D of the company’s LiDAR core chips. 

Founded in 2017, Fortsense focuses on the R&D of machine vision products, and has formed three product lines, namely, LiDAR SPDA, 3D vision, and under-screen optics.

Notably, the company’s SPAD technology is one of the key elements for reducing the cost of LiDAR. 

Fortsense started the research and development of LiDAR SPAD chips in 2019, and successfully saw the chips complete tape out process in 2021. Then, the chips obtained the automotive-grade certification in 2022, and finally delivered to clients via mass production. 

The experience signifies that Fortsense is one of the earlier players to make foray into the automotive LiDAR supply chain, and one of the few companies in the world capable of producing automotive-grade LiDAR SPAD chips.