RoboSense, a leading AI-driven robotics technology company, announced impressive interim results for the first half of 2024. The company’s revenue surged by an impressive 121% year-on-year, reaching RMB727 million. This growth was fueled by strong demand for RoboSense’s LiDAR products, particularly those designed for Advanced Driver-Assistance Systems (ADAS) in the automotive industry.
As of June 30, 2024, RoboSense had sold approximately 583,500 LiDAR units, with over 518,300 units dedicated to ADAS applications. The company’s LiDAR sales volume for the first six months of 2024 saw a remarkable increase of 415.7% for ADAS products and 21.9% for robotics applications.
RoboSense attributes its success to its strategic focus on LiDAR for ADAS applications, a market where it has achieved mass production. The company anticipates expanding its reach into other robotics industries, driven by the increasing adoption of robotics in various sectors. This trend is further fueled by the rapid advancements in AI, particularly large language models and embodied artificial intelligence, which are driving the transformation of traditional industries and creating new consumer markets for robotics.
Recognizing the significant growth potential for 3D perception sensors like LiDAR, RoboSense introduced two new products in the first half of 2024: the cost-effective MX and the high-performance M3. These products cater to the diverse needs of the rapidly evolving robotics market.
RoboSense currently serves over 2,400 customers in robotics and other business sectors. The company is committed to continuous innovation and investment in AI algorithms, chips, and hardware to maintain its leadership position in the automotive and robotics industries. RoboSense aims to provide a wider range of products and solutions beyond LiDAR, further strengthening its presence in the global market.
