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Robert Bosch Venture Capital invests in ABAX Sensing

Aron Bahnmüller >

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Innovative full solid-state chip Lidar design technology

  • Robert Bosch Venture Capital GmbH (RBVC) and Orbbec lead follow-on financing round in Chinese Lidar company followed by GSR Capital
  • ABAX develops a full solid-state chip Lidar for autonomous driving applications
  • Managing Director Dr. Ingo Ramesohl: “The follow-on investment underlines our excitement in the disruptive approach of ABAX for the next generation Lidar”

Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch group, completed a follow-on investment in ABAX Sensing. ABAX is developing a full solid-state chip Lidar for consumer and automotive applications, in particular for advanced driver assistance systems and autonomous vehicles. RBVC and Orbbec, a leading Chinese high-tech company focusing on 3D sensor technology, led the Pre-Series A financing round followed by GSR Capital and other investors. “The follow-on investment underlines our excitement in the disruptive approach of ABAX for the next generation Lidar and strengthens the growing Robert Bosch Venture Capital portfolio of companies in the field of sensors and software for autonomous vehicles,” says RBVC Managing Director Dr. Ingo Ramesohl.

ABAX to develop next generation Lidar for autonomous driving

The continuous development of autonomous driving puts forward higher expectations towards hardware technologies like Lidar – one of the key sensors to support autonomous vehicles in perceiving complex traffic environments. “The integration and cost reduction of Lidar technology is inevitable to realize large-scale applications”, explains Dr. Hongquan Jiang, Investment Partner at RBVC. “Lidar is one of the few hardware components that has huge potential for technological development. Therefore, RBVC is investing in ABAX´s full solid state technology for the next sensor generation.” ABAX’s enhanced chip-level solution intrinsically enables low costs and small product design, combined with functional requirements and safety. Its proprietary anti-interference technology eliminates mutual interferences among different Lidar devices and disturbance problems caused by ambient light very effectively.

“ABAX continues to increase its research and development efforts in automotive Lidar technology, in particular the key components of a Lidar - the transmitter and receiver chip - to provide the most optimized solution for autonomous driving. We are glad to have RBVC as a lead investor and partner, providing access to their expertise and knowledge of all the key players across the automotive ecosystem,” says Dr. Shuyu Lei, founder and CEO of ABAX.
ABAX is starting to conduct small-scale production testing and relevant customer trials on its first-generation Lidar products.

Contact person for press inquiries:
Aron Bahnmueller
phone: +49-711-811-47950

About ABAX
Founded in 2016, ABAX Sensing is a privately-held, high-tech company based in Xi’an, China, that designs, develops, and manufactures photoelectric devices, Lidar, laser distance meter and integrated circuits. The company is in possession of numerous independent intellectual property rights in the fields of Lidar transmitter and receiver chips, equipment installation, and distance measuring methodology. Its products provide a solution for obstacle detection and environmental monitoring. At present, the company is devoted to chip-level solution for solid-state automotive Lidar to be applied in driver assistance system and autonomous vehicles.

About RBVC GmbH
Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models that are relevant to the above-mentioned areas of business.
Additional information is available at: www.rbvc.com

The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,000 associates worldwide (as of December 31, 2019). The company generated sales of 77.7 billion euros in 2019. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. Bosch employs some 72,600 associates in research and development at 126 locations across the globe, as well as roughly 30,000 software engineers.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.

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