DeepRoute, a self-driving vehicle tech start-up, has announced it has raised US$50m in its pre-Series A funding round 'to expand the global presence of the company's autonomous driving solutions'. The financing round was led by Fosun RZ Capital, a Beijing-based venture capital arm of Chinese conglomerate Fosun International.
Shanghai-based GoldenSand Capital, Yunqi Partners, and Ventech China, as well as Shenzhen-based Green Pine Capital Partners also contributed to the pre-Series A funding. The company said the funds will enable DeepRoute to 'accelerate the research and development of autonomous technologies for passenger vehicles'.
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"Our team is very excited about the most recent round of funding we have received and how these funds will help further the advancement of autonomous vehicles on our roads," said Shuang Gao, Chief Operating Officer of DeepRoute. "Our ongoing research and development of industry technologies will continue to prioritize the safety and security of the public as we strive to bring full vehicle autonomy worldwide."
With research centers in Shenzhen, Beijing and Silicon Valley, DeepRoute says it specializes in Level 4 autonomous driving solutions. The company is dedicated to designing comprehensive self-driving technologies including sensors, high-definition mapping and positioning, and machine-learning, in addition to products like hardware systems, infrastructure, and 'simulators that perform with precision accuracy'.
DeepRoute says it has worked alongside some of the world's leading OEMs to provide a 'Full-stack Self-Driving System' and with automobile manufacturers to offer self-driving operation fleets. DeepRoute says it will support vehicle platooning technology to leading OEMs, and also provide a 'self-driving robo-taxi service during an international sporting event'.
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By GlobalData
