Robosense Technology (HKG:2498) raised HK$1.02 billion by placing up to 22 million new shares to at least six investors at HK$46.15 apiece, a Wednesday bourse filing said.

The shares represent 4.66% of the company's issued shares as enlarged by the placement.

The AI-driven robotics technology firm plans to use the net proceeds of HK$988.9 million to research and develop sensors and AI perception technologies, establish and enhance domestic and overseas production lines, and explore potential partnerships over the next two years.