Amid merger and bankruptcy in the West, lidar maker Hesai nails $190M IPO

Last week, China’s lidar maker Hesai raised an upsized IPO in the U.S. at a time the industry is reeling from layoffs, bankruptcy, and consolidation. The Shanghai- and California- based company, which makes the sensing technology critical to autonomous driving and increasingly advanced driver assistant systems, raised $190 million from its public offering on Nasdaq.
As my colleague Kirsten wrote in January, lidar makers are facing a “make or break” year as they enter 2023. The handful of players that sought special-purpose acquisition mergers hasn’t received the scale o

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