Scion Leading Mobility received hundreds of millions of yuan in Series A financing, led by NIO Capital and Xiaomi Industrial Investment

Recently, Scion Leading completed a round A financing of several hundred million yuan, led by Weilai Capital and Beijing Xiaomi Intelligent Manufacturing Fund, and followed by Jiawo Capital. This round of financing aims to promote the mass production, research and development, and industrialization of 4D imaging radar. With the development of intelligent driving technology, 4D imaging radar is expected to become a cost-effective choice for intelligent driving systems with its precise height measurement capabilities and high angular resolution. Jiawo Qixin Fund invested 20 million yuan, accounting for 2.5% of the company's equity, and the company's valuation was 800 million yuan. Bulk sales will be carried out from 2024, and it has been designated by Weilai Automobile for all platforms. Due to the short establishment of the company, the products have not been shipped, and it is expected to achieve positive net profit by 2026. The long-term gross profit margin exceeds 30%, and the net profit margin reaches 12%.