Wuhan Luojia Yiyun Optoelectronic Technology Co, a company founded by a startup team from Wuhan University and based in Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC), received the Deloitte China Technology Fast 50 award for the second time on Dec. 16.

"Since we first made it into the Deloitte Optics Valley Technology Fast 20 in 2024, we've gained increased industry attention and experienced rapid revenue growth," said Wu Anlei, general manager of Luojia Yiyun.

The Deloitte China Technology Fast 50 highlights technology companies with strong growth and innovative capabilities. Many are early-stage firms, and the list is widely seen as a launchpad for emerging tech leaders.

Founded in 2020 in OVC, Luojia Yiyun specializes in high-precision LiDAR equipment for airborne and vehicular applications. The company has achieved a compound annual revenue growth of over 100 percent and was recognized as a seed unicorn in Wuhan last year.

In 2020, imported products accounted for 80 percent of airborne LiDAR purchases in China. Over the past five years, domestic products have grown to hold an 80 percent market share within the same category. As a beneficiary of this localization trend, Luojia Yiyun's self-developed high-precision LiDAR devices now command over half of the domestic market.

"Our innovation primarily lies in foundational technology. To sustain high growth, collaboration with downstream suppliers is crucial," said Wu. He expressed a desire for Chinese LiDAR industry players to work together, jointly shaping global industry standards.

Editor:Jing Zhang