Heart Capital Congratulates RoboSense on Its Hong Kong Stock Exchange Listing | Heart Capital News

On January 5, 2024 Beijing time, RoboSense, a global leader in the lidar and perception solutions market, officially listed on the Main Board of Hong Kong Exchanges and Clearing Limited under the stock code "2498.HK."

As of 11:00 AM, RoboSense was trading at HK$42.30 per share, with a market capitalization of nearly HK$19 billion. This means RoboSense has become not only "China's first listed intelligent driving perception systems company" but also the world's highest-valued lidar enterprise.

Yanchen Liu, Partner at Heart Capital, extended sincere congratulations to RoboSense.

"It is a great honor to have participated in RoboSense's early-stage investment. The company's rapid growth is another successful case of China's technological innovation combined with a high-quality supply chain. Congratulations to Dr. Chunxin Qiu and the RoboSense team." RoboSense was a project that Yanchen Liu led while at Alibaba Cainiao's strategic investment department.

RoboSense is a global leader in the lidar and perception solutions market. Through the integration of hardware and software, RoboSense differentiates itself from most lidar pure-play hardware manufacturers on the market. By fusing lidar with vision or other sensor-based perception solutions, vehicles and robots can be endowed with perception capabilities. RoboSense builds its solutions around chip-driven lidar hardware while simultaneously developing AI perception software technology, driving market exploration of application scenarios and leading the industry toward large-scale commercialization.

As a recipient of the Automotive News PACE Award, the AutoSens Award, the Audi Innovation Lab Champion, and two CES Innovation Awards, RoboSense has already established a foundation of market success: its products and technologies serve numerous global automakers, Tier 1 suppliers, and various robotics and other non-automotive industry customers. As of December 18, 2023, RoboSense had secured mass production purchase orders for over 60 vehicle models from 21 automakers and Tier 1 suppliers, with 24 models having reached start of production (SOP). As of March 31, 2023, compared to other global lidar companies, RoboSense served the largest number of automakers and Tier 1 suppliers, had the most pre-installed mass production designated models, and had the most models that achieved SOP.

RoboSense's listing today marks another bell-ringing celebration for Heart Capital. This also becomes the 8th IPO project for Heart Capital's investment team. As an early-stage venture capital fund rooted in China, Heart Capital's investment team averages over ten years of investment experience and has long focused on strategic deployment in new energy, new transportation, and digitalization, including Series A investments in Xpeng Motors (NYSE: XPEV, 09868.HK) and Full Truck Alliance (NYSE: YMM), a Series B investment in FinVolution (NYSE: FINV), and an angel-round investment in QSG (NASDAQ: QSG).

As 2024 begins and everything takes on a fresh look, Heart Capital looks forward to working alongside more outstanding Chinese companies like RoboSense to contribute to the vigorous development of China's technology industry.

Founded in 2022, Heart Capital is an early-stage venture capital fund focused on technology and digitalization in China. Heart Capital's team is primarily composed of Yan Han, founding partner of Lightspeed, core investors, a chief financial officer, and seasoned investors from industry backgrounds. The team's past investments include Series A investments in Xpeng Motors (NYSE: XPEV, 09868.HK) and Full Truck Alliance (NYSE: YMM), as well as FinVolution (NYSE: FINV), Baichuan, Manbang Cold Chain, Fan Deng Reading, RoboSense, World Logistics, Micro-Nano Starry Sky, LandSpace, Lanhu, Starfield, and others. Rooted in China with a global outlook, Heart Capital is committed to finding true value in non-consensus. Heart Capital respects the value of "people" and advocates for the potential of the "heart," looking forward to accompanying more young Chinese entrepreneurs in strengthening China and going global.