GL Ventures led a $300m Series D funding round in Hesai.

GL Ventures, a venture capital firm, led a $300m Series D funding round in Hesai Technology, a LiDAR manufacturer. The round was joined by Xiaomi, Meituan and CITIC PE. The proceeds from the newly-closed funding round will be used to support the volume production and scale delivery of the factory-installed hybrid solid-state LiDAR, the construction of its smart manufacturing center, and the R&D of automotive-grade high-performance LiDAR chips.