Chinese autonomous driving technology firm UISEE said it raised over CNY1bn (US$155m) in its latest fundraising round, according to local reports.
China’s National Manufacturing Transformation and Upgrade Fund, a CNY50bn (US$7.7bn) state-owned fund put in place to promote the country’s manufacturing industry, also participated in the fundraising round. This was the first time the fund had invested directly in a self-driving technology company.
Go deeper with GlobalData
UISEE, established in 2016, is seen as a technology leader with key “advantages in core autonomous driving software and hardware”.
Its Level-4 technology has been applied in multiple scenarios including airports, buses and robo-taxis in recent years.
The company is now focused on developing a safe and reliable autonomous driving platform that supports “full scene, truly unmanned and all-weather” scenarios.
See Also:
UISEE has been working with leading Chinese industrial and logistics companies such as Changan Minsheng Logistics, FAW Logistics, BASF and Dongfeng Motor, and its revenue rose 150% last year despite the COVID-19 pandemic.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLast year the company agreed to collaborate with local vehicle manufacturing JV SAIC-GM-Wuling to build unmanned logistics routes in China. So far, they have applied for licences for more than 20 routes using 100 fully-unmanned transport vehicles.
