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Horizon Robotics stated its SuperDrive system presents human-like autonomous driving. | Supply: Horizon Robotics
Horizon Robotics, a Chinese language developer of autonomous driving expertise, is elevating HK$5.4 billion ($696 million) from its preliminary public providing (IPO). In response to Reuters, that is the biggest IPO in Hong Kong in 2024. It is usually 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 staff, Horizon Robotics offers superior driver help programs (ADAS) and autonomous driving (AD) programs for passenger autos. The firm stated it combines algorithms, software program, and processing {hardware} to offer the core applied sciences for these programs.
It offered 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 value 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’ expertise
Horizon presents a spread of sensible driving programs, which embody built-in {hardware} and software program, for scalable ADAS and AD. It presents three completely different programs 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 allows 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 this can be a full state of affairs sensible driving system that may help freeway, city, and parking use instances. Its capabilities embody:
- 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 modifications, and extra
- Clever parking
All of its expertise is predicated on its Journey sequence. These are automotive-grade merchandise optimized for power and cost-efficient sensible driving programs. The newest model of this line of sensible 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 monitor 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.