Chinese Lidar Startup Hesai Tech to Launch US IPO, Seeking $150M

-Chinese lidar startup Hesai Technology is planning to file for a US initial public offering (IPO) next week.
-The startup is expected to raise around $150 million from the IPO.
-Investment banks such as Credit Suisse, Goldman Sachs, and Morgan Stanley are working with Hesai on its first-time shares offering.

Hesai Technology, a Chinese leader in lidar technology for autonomous driving and ADAS, is planning to file for a US initial public offering (IPO) as early as next week. The details of the IPO have not been disclosed, but if Hesai proceeds with all the steps on time, it might be the first Chinese company to launch an IPO in the US this year. Founded in 2014, Hesai Technology is a global leader in lidar technology for autonomous driving and ADAS, empowering robotics and elevating lives through high-performance, reliable, and cost-effective lidar solutions.

The company is expecting to raise around $150 million through the IPO. This investment will be used to support the company’s growth and development, as well as to strengthen its position in the lidar industry. Credit Suisse Group AG, Goldman Sachs Group Inc, and Morgan Stanley are currently working with Hesai on its first-time shares offering.

Hesai Technology has a long history of innovation, with a variety of products designed to meet the needs of customers in the automotive, robotics, and industrial sectors. Its products have been widely adopted by some of the world’s leading companies, including Audi, BMW, Daimler, and Xiaomi.

The company has also established strategic partnerships with several leading companies in the autonomous driving and ADAS industry, such as Velodyne, AEye, and Innoviz. These partnerships have allowed Hesai to develop a wide range of products, including the world’s first automotive-grade, full-range, high-resolution lidar.

Hesai Technology’s success has been driven by its commitment to innovation and its ability to develop cutting-edge technologies. The company has seen tremendous growth over the past few years, and this IPO could be a major milestone for the company. If successful, the IPO could propel Hesai Technology into the global spotlight, as it would be one of the first Chinese companies to launch an IPO in the US this year.