Innovusion, a laser sensor maker backed by Chinese electric vehicle maker Nio, has filed for an initial public offering on Nasdaq expected to disperse up to 21.4 million shares to investors. The move, revealed on August 10 in an announcement by the China Securities Regulatory Commission (CSRC), did not reveal further details. Meanwhile, the country’s top securities regulatory body asked the lidar supplier to file documents about the process of its overseas offering 15 working days after it becomes a public company in the US. Founded in California in 2016 by two former Baidu scientists, Innovusion makes lidar sensors for Nio that the EV company uses for its flagship ET7 sedan. Innovusion raised $66 million in August 2021 in a Series B plus round from investors including Nio Capital. [CSRC statement, in Chinese]
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