We consider the weak target detection problem with unknown parameter in colocated multiple-input multiple-output (MIMO) radar. To cope with the sheer amount of data for large-size systems, a multi-bit quantizer is utilized in the sampling process. As a low-complexity alternative to classic generalized likelihood ratio test (GLRT) for quantized data, we propose the multi-bit detector on Rao test with a closed-form test statistic, whose theoretical asymptotic distribution is provided to generalize the actual detection performance. Besides, we refine the design of quantizer by optimized quantization thresholds, which are obtained resorting to the popular particle swarm optimization algorithmthe (PSOA). The simulation is conducted to demonstrate the performance variations of detectors based on unquantized and quantized data. The numerical results corroborate our theoretical analyses and show that the performance with 3-bit quantization approaches the case without quantization.