Luowei Technology received RMB 50 million in Series A financing, led by Qingzhou Capital

Luminwave, a pure solid-state chip-level LiDAR R&D company, recently announced a 50 million yuan Series A financing, led by Qingzhou Capital, followed by Caitong Capital, Huagai Nanfang, and Bugu Tianque, with Zhongke Chuangxing Technology Service Company's investment banking department as the exclusive financial advisor. This round of funds will be mainly used for the R&D and production of LiDAR and chip products as well as team building.

Luowei Technology was founded in 2018 and is headquartered in Hangzhou. The company applies silicon photonic phased array scanning chips (OPA), continuous wave frequency modulated coherent detection chips (FMCW), wafer-level micro-nano optics, optical system-level packaging and other technologies to the LiDAR field, and independently developed two product lines: pure solid-state imaging-level LiDAR and millimeter-level MicroLiDAR.

Up to now, MicroLiDAR series products have been shipped on a large scale. The first generation of pure solid-state imaging-level LiDAR, the main product, has completed sample development and entered the productization stage. At the same time, Luowei has reached procurement intentions with more than ten autonomous driving and robotics companies, and is actively promoting the application verification of new products.

Last year, Luowei Technology completed an angel round of financing of tens of millions of yuan, led by Zhongke Chuangxing and followed by Freerays Capital. The financing funds will be mainly used for the development of pure solid-state imaging-level LiDAR chips and LiDAR modules based on silicon photonics.

On November 3 last year, LW-OPA-600A, a pure solid-state LiDAR silicon photonic phased array chip independently developed by Luowei Technology, won the "Most Potential IC Design Enterprise of 2020" award.