(Yicai Global) June 7 -- Minieye has secured CNY800 million (USD120 million) in its most recent series of financing which the Chinese intelligent driving solutions developer will use to expand core technologies and accelerate the development and commercialization of high-end autonomous driving solutions.

Minieye has concluded its Series D investment with a D3 fundraiser led by US’ private equity firm Cathay Capital, the company said yesterday. Chinese investment firms Nio Capital and Shenwan Hongyuan were also participants. The exact amount raised in the D3 round was not given, but the company finished its D2 round in late February.

Shenzhen-based Minieye will gradually move towards high-end autonomous driving and cooperate with more strategic partners through flexible business models, founder and Chief Executive Officer Liu Guoqing said.

Founded in 2014, Minieye counts more than 40 auto manufacturers as its clients, including Nio, FAW, Geely Commercial Vehicles Group and BYD.

Editor: Kim Taylor