(Yicai Global) Nov. 21 -- Lightspeed China Partners, a leading Chinese venture capital firm, has invested almost CNY100 million (USD14 million) in the Series A fundraiser of Daisch Intelligent Technology, a startup that offers high-precision positioning solutions for self-driving vehicles.

The funding will be used to strengthen Daisch’s supply and delivery capabilities, broaden its product lineup, and enhance its market expansion, Lightspeed China said in a release today.

Founded in 2015, Shanghai-based Daisch’s integrated high-precision inertial navigation system is the most complete solution in the industry, according to Chief Executive Bian Jiang.

The system is a must for complex autonomous vehicle driving environments and has gradually become the auto sector's mainstream solution for self-driving systems on mass-produced models, said Zhu Jia, a partner at Lightspeed China. Daisch has made remarkable achievements in this field, he added.

Daisch's first smart plant has a production efficiency that is more than 15 times higher than the industrial average. Its second such plant, now under construction, will be equipped with fourth-generation intelligent production lines that can make two million sets of products each year. 

Daisch has many clients in the autonomous driving field. Its products have been included in the procurement projects of more than 10 models of Volkswagen's China joint venture, FAW Hongqi, and other mainstream producers. 

The startup's core technologies are the inertial measurement unit and inertial fusion system. Its integrated IFS products will be used in self-driving systems in various forms, Daisch said, adding that the company will help further enhance the performance, stability, and safety of autonomous driving by expanding forms of chip-grade products and others.

The inertial navigation system is already widely used in the aerospace and military domains, but remains an emerging technology in the auto industry. As a necessity for cars at Level 3 or higher autonomy, it is expected to see explosive growth, Daisch pointed out.

Editor: Futura Costaglione