Central media report: Beixing is becoming a potential unicorn company

程宇

Central media report: Beixing is becoming a potential unicorn company [Copy link]

On June 10, the website and client of China Daily, the official English media of the country, commented in the article "Unicorns at the Frontier of New Economy" that Beixing "is becoming a potential unicorn company."

With the release of the national instructions on road traffic construction, LiDAR will play a big role in the fields of autonomous driving, vehicle-road collaboration, smart transportation, smart cities, etc. Previously, French market research firm Yole Développement also stated in its latest report that by 2025, the market size of LiDAR equipment will more than double to US$3.8 billion. From a market perspective, the prospects for LiDAR are promising.

Benewake was founded in 2015. In just 6 years, it has received investment from top 10 investors including IDG Capital, Shunwei Capital, Cathay Capital (Valeo LP), Delta Capital, Keywise, etc. At the same time, it has also been gradually deployed in large-scale transportation fields such as autonomous driving, vehicle-road collaboration, and rail transportation. At present, Benewake's Horn series of long-range and high-performance 3D laser radars have been verified for large-scale transportation applications. In response to the technical route, mass production, cost and reliability issues that the outside world is concerned about laser radars, Benewake is also accelerating its breakthrough progress.

"We are now not far from becoming a unicorn company," said Li Yuan, founder and CEO of Benewake, according to the China Daily report. "I am looking forward to this day, because it will mark a new economic growth point driven by smart vehicles and smart railway systems."

China Daily's Chinese translation of the report on Beixing

Unicorns at the forefront of the new economy

Du Juan | chinadaily.com.cn | Last updated: 2021-07-15

Benewake (Beijing) Photonics Technology Co., Ltd., a high-tech company in Beijing's Zhongguancun area that focuses on developing "robot eyes" lidar, is becoming a potential unicorn company.

"We are now not far from becoming a unicorn company," said Li Yuan, founder and CEO of Benewake. "I am looking forward to the arrival of this day, because it will mark a new economic growth point driven by smart vehicles and smart railway systems."

Li Yuan said that for a startup that is growing into an industry leader, becoming a unicorn is an intermediate stage. The increase in the number of potential unicorn companies means there are more possibilities in a vibrant economy.

"High-end talents, supportive policies and a good entrepreneurial atmosphere are the key reasons why Beijing has become the best place for unicorns and potential unicorns," said Li Yuan. As a lidar developer, most of its partners and customers, such as self-driving car manufacturers and high-speed train research institutions, are in the capital.

"I believe potential unicorns will make great contributions to the national economy, and research on these companies reflects the latest development direction of emerging industries," Li Yuan said.

[The following is the original text of China Daily]

Unicorns on cutting edge of new economy

By DU JUAN | CHINA DAILY | Updated:July 15, 2021

Benewake Co, a high-tech company focusing on developing the "eyes of the robots"－LiDAR－in Beijing's Zhongguancun area, is on its way to become a potential unicorn.

"We are not far from becoming a unicorn company now," said Li Yuan, founder and chief executive of Benewake. "I'm looking forward to the day it happens since it will mark the boost of a new economic growth point driven by smart vehicles and intelligent railway system."

Li said becoming a unicorn is the middle-stage for a startup that is on its way to become a leading enterprise in an industry. The increasing number of potential unicorn companies means more possibilities in a vibrant economy.

"The high-end talents, supportive policies, as well as the great entrepreneurial climate are key reasons for Beijing becoming the best land for both unicorns and potential unicorns," Li said. As a LiDAR developer, its partners and clients such as autonomous vehicle producers and high-speed railway technology institutions are mostly based in the capital.

"I believe the potential unicorns will contribute greatly to the country's economy and the research of those companies has reflected the latest direction of the new industries," Li said.