Hesai Technology’s Financing History

In January 2015, Hesai Technology raised RMB 10 million in the angel round with a valuation of RMB 50 million. Investors included PreAngel, Yuanzhan Capital, and Dami Ventures. In December 2016, it raised RMB 110 million in the A round with a valuation of RMB 600 million. Investors included Gaoda Investment, Jiangmen Ventures, Pangu Ventures, and Yuanzhan Capital. In May 2018, it raised RMB 250 million in the B round with a valuation of RMB 2 billion. Investors included Lightspeed China and Baidu. In January 2020, it raised US$173 million in the C round with a valuation of US$700 million. Investors included Lightspeed China, Bosch Group of Germany, ON Semiconductor of the United States, Qiming Venture Partners, Detong Capital, and Axiom of Singapore. In June 2021, it raised US$300 million in the D round with a valuation of US$2 billion. Investors included Hillhouse Capital, Xiaomi Group, Meituan, CITIC Industry Fund, and Huatai Dollar Fund. Old shareholders Lightspeed China, Lightspeed Global, and Qiming Venture Partners followed suit. In November 2021, the D+ round was valued at US$2.5 billion. Investors included Xiaomi Group.