Chinese LiDAR maker Seyond secures $2.6 million deal with Sweden's Aventi Sweden

Seyond -- Nio's LiDAR supplier -- will deploy its detection technology in Sweden's transportation infrastructure.This marks a pivotal step for Seyond in entering Europe's intelligent transportation market.(Seyond ITS Management Platform (SIMPL). Image credit: Seyond)Chinese LiDAR supplier Seyond Holdings (HKG: 2665) has entered into a partnership with Swedish intelligent transportation systems (ITS) infrastructure provider Aventi Sweden (formerly Blinkfyrar), securing a project order valued at nearly $2.6 million.Seyond is known to many as the LiDAR supplier for electric vehicle (EV) maker Nio Inc (NYSE: NIO, HKG: 9866). It was listed in Hong Kong earlier this month.Its Seyond ITS Management Platform (SIMPL) will be integrated into Aventi Sweden's infrastructure product suite and deployed at multiple traffic intersections across Sweden, according to a statement released today. Join us on Telegram or Google News This marks a pivotal step for Seyond into Europe's intelligent transportation market and adds to its global experience in building smart traffic systems, the company said.SIMPL employs image-grade LiDAR technology and AI algorithms to enable reliable, efficient, and precise real-time traffic data collection and analysis, providing data support for intelligent traffic management, Seyond explained.The system enhances traffic safety, optimizes toll management efficiency, and facilitates infrastructure operation and maintenance strategy planning, it added."This deployment is not just about a single territory; it is a validation of the broader trend we are seeing globally," said Philip Lassner, head of Global ITS at Seyond.Founded in 2016 as Innovusion, Seyond rebranded in December 2023.The company's revenue relies heavily on Nio, serving as the automaker's sole LiDAR supplier to date.Seyond generated $52 million in revenue during the first five months of 2025, with revenue from Nio accounting for 86.2 percent, according to its Hong Kong IPO prospectus released earlier this month.The company is expanding its customer base, announcing on December 16 that it secured orders from GAC Group (HKG: 2238) . It also supplies Leapmotor (HKG: 9863) and several other automakers. Nio's LiDAR supplier Seyond debuts on Hong Kong stock market As of this writing, Seyond was up 7.5 percent to HK$10.75 per share, with a market capitalization of HK$14.6 billion ($1.88 billion).