Xiaomi-Backed Lidar Startup Hesai Technology to Launch US IPO Next Week

• Xiaomi-backed lidar startup Hesai Technology is planning to file for a US initial public offering (IPO) next week.
• The financial details of the IPO have not been disclosed, but Hesai could raise about $150 million through the IPO.
• Hesai Technology is a global leader in lidar technology for autonomous driving and ADAS, founded in 2014.

Xiaomi-backed lidar startup Hesai Technology is looking to make waves in the US by filing for an initial public offering (IPO) next week. Founded in 2014, Hesai Technology is a global leader in lidar technology for autonomous driving and ADAS. It empowers robotics and elevates lives through high-performance, highly reliable, and cost-effective sensing solutions.

The financial details of the IPO have yet to be disclosed, though sources familiar with the situation have stated that Hesai could potentially raise as much as $150 million through the IPO. Hesai is being advised by several notable financial services companies, including Credit Suisse Group AG (SWX: CSGN), Goldman Sachs Group Inc (NYSE: GS), and Morgan Stanley (NYSE: MS).

If Hesai is able to complete all the necessary steps on time, it may be the first Chinese company to launch an IPO in the US this year. The company’s lidar technology is considered to be at the forefront of the autonomous driving and ADAS industry, and this IPO could provide the company with the necessary capital to continue its growth and progress.

The company’s lidar systems use multiple sensors to measure distances and angles at a high rate of speed, allowing autonomous vehicles to make real-time decisions and accurately maneuver in their environment. The technology also provides high-resolution images, making it possible to classify objects and detect obstacles.

It will be interesting to see how Hesai’s IPO progresses throughout the coming weeks. With the company’s cutting-edge lidar technology, it has the potential to become a major player in the autonomous driving and ADAS industry. If the company is successful in raising the desired amount of capital, it could push the boundaries of autonomous driving and further revolutionize the industry.