Caixin
Jan 19, 2023 03:58 AM
BUSINESS

Xiaomi-Backed Hesai Technology Files for U.S. IPO

Xiaomi Corp. invested $70 million in Hesai’s series D funding in 2021.
Xiaomi Corp. invested $70 million in Hesai’s series D funding in 2021.

Hesai Technology Co., a Chinese developer of sensor technologies used in self-driving cars, filed for an initial public offering (IPO) in the U.S., aiming to become the first publicly traded Chinese lidar sensor maker.

The Shanghai-based startup previously planned to sell shares domestically. It filed for an IPO on Shanghai’s Nasdaq-like STAR Market in 2021 to raise 2 billion yuan ($296 million) but withdrew the application two months later.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin Biz Roundup: China’s Door Will Only Open Wider, Liu He Tells Davos
00:00
00:00/00:00