Hesai completes multi-stage $374M Series D at $2B post-money
Hesai completed a single multi-stage Series D comprising $304 million of convertible loans and a $70 million direct share issuance, at an issuer-disclosed $2 billion post-money valuation.
Evidence notes
- The Series D comprised $304 million of convertible loans issued in May 2021 plus 4,242,424 shares issued at $16.50 in September 2021, equal to $70 million.
- The two components belong to one Series D financing and total $374 million; they are not separate rounds and $374 million is not a cumulative lifetime-funding headline.
- The issuer states that the Series D achieved a $2 billion post-money valuation and that all convertible loans had converted by September 30, 2021.
Company context
Hesai Technology develops lidar sensors for autonomous mobility, robotics, industrial automation and smart infrastructure applications.