Muniu Technology Completes Financing of Hundreds of Millions of Yuan

Beijing Muniu Pilot Technology Co., Ltd. (hereinafter referred to as "Muniu Technology") announced that it had completed hundreds of millions of yuan in financing last year. Investors include Canglin Investment, Cuihu Fund, Weiguang Venture Capital, Guohai Innovation Capital and Boxin Capital. Old shareholders Jinbang Capital and Junmao Capital continue to increase investment. The financing funds are mainly used to increase research and development and production line expansion. As early as 2019, "Muniu Technology" had already installed 4D imaging radar in the products of Bobcat, a global compact mechanical vehicle manufacturer. In the automotive field, "Muniu Technology" also established a joint venture with ADAC Automotive, a traditional Tier 1 manufacturer in North America, to jointly develop a vehicle entry system based on radar perception; in China, "Muniu Technology" has reached cooperation with many well-known new energy vehicle companies to achieve mass production of front radar and corner radar. As domestic and foreign users gradually realize a large number of applications, in 2020, "Muniu Technology" invested in the construction of an intelligent fully automatic production line factory in Jiading, Shanghai, and put it into mass production in June of the same year.