Take heed to this text
Horizon Robotics stated its SuperDrive system provides human-like autonomous driving. | Supply: Horizon Robotics
Horizon Robotics, a Chinese language developer of autonomous driving know-how, is elevating HK$5.4 billion ($696 million) from its preliminary public providing (IPO). In keeping with Reuters, that is the biggest IPO in Hong Kong in 2024. Additionally it is the biggest tech sector IPO in Hong Kong since SenseTime Group, a man-made intelligence firm, raised $740 million in late 2021.
Established in 2015 by former Baidu workers, Horizon Robotics supplies superior driver help techniques (ADAS) and autonomous driving (AD) techniques for passenger automobiles. The corporate stated it combines algorithms, software program, and processing {hardware} to offer the core applied sciences for these techniques.
It bought 1.355 billion shares in a value vary of HK$3.73 to HK$3.99 every, in accordance with Horizon’s filings. Alisoft China and Baidu, together with two different cornerstone traders, subscribed for $219.8 million price of Horizon Robotics shares within the IPO, regulatory filings confirmed. Goldman Sachs, Morgan Stanley, and China Securities Worldwide led the deal.
The Robotic Report reached out to Horizon Robotics for touch upon the IPO, however the firm declined to remark.
Inside Horizon Robotics’ know-how
Horizon provides a variety of good driving techniques, which embrace built-in {hardware} and software program, for scalable ADAS and AD. It provides three totally different techniques with various ranges of autonomy. The primary is Horizon Mono, which is a entrance ADAS system. Subsequent is Horizon Pilot, which is made for driving and parking. Horizon Pilot permits freeway pilot-assisted driving, automated parking help, and excessive Navigation On Autopilot (NOA).
Lastly, the corporate’s most mature system is the Horizon SuperDrive. The corporate stated it is a full situation good driving system that may help freeway, city, and parking use circumstances. Its capabilities embrace:
Transformer-based end-to-end notion
Information-driven interactive predictive decision-making
Clean driving to keep away from obstacles, flip, brake, and yield
Assertive driving to merge, go, change lanes, and navigate congested zones
Fast response time, rivaling human driving
Unprotected turns, U-turns, automated lane adjustments, and extra
Clever parking
All of its know-how is predicated on its Journey collection. These are automotive-grade merchandise optimized for power and cost-efficient good driving techniques. The most recent model of this line of good driving processing software program is the Horizon Journey 6.
Earlier this yr, the corporate introduced a mass manufacturing plan for its SuperDrive system. Horizon Robotics stated its SuperDrive system is on observe to forge collaborations with a number of main automotive manufacturers and Tier-1 suppliers within the second quarter of 2024. By the fourth quarter of 2024, the corporate goals to finalize a mass-production-ready model, with the primary SuperDrive-powered car scheduled to roll off the manufacturing line by the third quarter of 2025.