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  • Greater China

Prosperity7 backs China autonomous driving player Hyperview

hyperview
  • Tim Burroughs
  • 30 May 2023
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Prosperity7 Ventures, a growth equity fund established by Saudi Arabia state oil giant Saudi Aramco, has invested in Hyperview, a China-based autonomous driving technology provider.

The size of the investment was not disclosed. Prosperity7 said it participated in a round for Hyperview in February that amounted to over CNY 100m (USD 14.1m) and then made a separate investment of tens of millions of renminbi. This is Prosperity7’s only investment in a Chinese intelligent driving technology company to date and one of few it has made in the space globally.

Founded in 2018, Hyperview has raised several rounds of funding from the likes of Walden International, Hillhouse Capital, Linear Capital, BlueRun Ventures, and Goldstone Investment.

The latest proceeds will go towards R&D for next-generation advanced driver assistance systems (ADAS) and level-four (L4) autonomous driving technologies, as well as capacity expansion to meet the needs of growing business with original equipment manufacturers (OEMs). Prosperity7 will also leverage its network and resources in the Middle East and globally to accelerate Hyperview’s expansion.

ADAS is often used interchangeably with L2 autonomy, where vehicles change lanes, overtake, and park automatically. L3 is described as conditional autonomy while L4 involves full autonomy in certain environments, albeit with the option of human override.

Hyperview’s capabilities, which span L1-L4, include in-house domain control unit hardware and perception, planning and control software algorithms. It is focused on putting its ADAS offering into mass production while developing higher-level solutions in anticipation of full commercialisation. In a statement, this is described as “looking up the starry sky and being down-to-earth.”

The company unveiled its L4 system based on bird’s eye view (BEV) perception technology at the 2023 Shanghai International Auto Show. It also launched a new driving and parking integrated domain controller – capable of highway navigation-on-autopilot at lower cost through flexible sensor configuration – and an accompanying intelligent camera module.

Hyperview has achieved mass production on 30 models, working with OEMs such as SAIC Motor, Great Wall Motor, Chery Automobile, JAC Motors, Li Auto, and BYD.

Prosperity7 became increasingly active in China over the course of 2022, participating in funding rounds for several robotics start-ups and leading rounds for artificial intelligence-driven drug discovery company Insilico Medicine and open-source software developer Zilliz.

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