Nio Lidar supplier Innovusion raises $64 million in funding

FILE PHOTO: William Li, founder and chief executive officer (CEO) of Chinese electric vehicle maker Nio Inc, unveils Nio's ET7 sedan at a product launch event in Chengdu, Sichuan province, China, January 9, 2021. REUTERS/Yilei Sun/File Photo

LONDON (Reuters) - Lidar sensor maker Innovusion said on Monday it had raised $64 million in funding to ramp up production to supply Chinese electric vehicle (EV) maker Nio Inc's ET7 sedan, which is scheduled to start deliveries in early 2022.

The funding includes new investments from Singapore state investor Temasek and venture capital firm Joy Capital.