AI chip start-up company Horizon's listing process has new news.
On October 9, it was reported that Horizon might plan to go public in Hong Kong next year. Previously, Horizon had been exposed that it would conduct an initial public offering (IPO) in the United States as soon as the end of this year, and the amount of funds raised may exceed 1 billion US dollars.
According to people familiar with the matter, the company is considering moving its initial public offering location from the United States to Hong Kong, and is cooperating with the financial institution responsible for the IPO guidance to study the possibility of listing in Hong Kong as early as next year. People familiar with the matter added that this is a preliminary plan, and Horizon has not yet made a final decision on listing in Hong Kong. Horizon has not yet responded to the news.
At present, the horizon, which was born in the boom of autonomous driving and entrepreneurship, has become the darling of capital.
Since its establishment in 2015, Horizon has completed 13 rounds of financing. The most recent round of financing was the C7 round of financing in June this year. Since the launch of the large C round of financing at the end of last year, Horizon has attracted many investment institutions to enter the market. Only 41 investors have been announced to the outside world, including most of the active professional capital and industrial institutions in the market. In the previous financing process, Horizon has also been led by Intel .
Some investors said with emotion that this round of investment can no longer be made by grabbing, and Horizon has very high requirements on investors. "In the future, pure financial capital is already difficult to enter. If you can invest, you will win."
It is reported that after the completion of the C round of financing, the valuation of Horizon has reached US$5 billion (equivalent to RMB 32 billion).
In fact, in addition to the horizon, many unicorn companies have emerged in the autonomous driving industry, and there are not a few companies that are highly sought after by capital. Xiaoma Zhixing, Hesai Technology, Momenta, etc. have all completed several rounds of financing. Data shows that from January to September 2021, there were at least 71 financing events in the domestic autonomous driving field, with a financing scale of more than 30 billion yuan.
running wildly,Autonomous driving tracks are still considered to have huge market prospects. According to TrendForce, the global automotive semiconductor market will grow to 21 billion U.S. dollars in 2022, a year-on-year increase of 12.5%. It is estimated that by 2026, this figure will reach 67.6 billion U.S. dollars.
Previously, there had been news of a number of autonomous driving startups going public in the United States, but due to the Didi incident, many companies shelved the listing process. Except for Tucson, a truck autonomous driving startup, that will go to the US for an early IPO in the future, Xiaoma Zhixing and Hesai Technology both said in August this year that they will postpone their listing in the United States.
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