RoboSense, one of China’s leading LiDAR suppliers, is reportedly to finish the largest single investment round in the automotive LiDAR industry, possibly exceeding RMB2.4 billion $379.3 million a local media outlet reported.

Photo credit: RoboSense

This investment round is currently undefined, but the size of the investment will undoubtedly surpass the previous LiDAR investment champion, Hesai Technology’s Series D round, at $370 million, sources close to RoboSense confirmed to a local media outlet.

RoboSense’s last $300 million worth of financing round could be dated back to 2018. SAIC Motor, BAIC Group, and Alibaba Group’s logistic arm, Cainiao, all participated in the round.

According to the sources, investors in the current round “include almost half of the Chinese auto industry”. Aside from mature carmakers like Yutong Buses, BYD, SAIC Motor, BAIC Group, some domestic auto startups may also be involved. Major enterprises within the automotive supply chain will contribute to the round, including Chery Auto’s recent car-making partner, Luxshare Precision. Moreover, China’s smartphone giant Xiaomi is said to lead this round of financing.

If the investment round goes smoothly, RoboSense will own a comprehensive ecosystem with resources and capital throughout the automotive industry.