Haomo.AI Technology, a self-driving startup, has raised $41.4 million in a Series B2 investment.
According to a corporate statement on Wednesday, self-driving startup Haomo.AI Technologies has raised an additional $41.4 million in its Series B2 round from a fund established by the Changxing government in the city of Huzhou.
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Two months after the company closed its $14 million Series B1 round in February, it secured another round in which it included current investor JZ Capital. The statement states that R&D will be funded by the revenues.
Founded in November 2019, the Beijing-based firm creates cutting-edge driver-assistance systems for autonomous delivery trucks used in last-mile logistics as well as passenger cars. The new investment came from a fund that the Changxing government in Huzhou, Zhejiang province, and current investor JZ Capital had recently established.
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According to it, the money would go into R&D to help the company keep its top spot in China’s market for mass-produced autonomous driving technologies.
“The development of China’s intelligent vehicle sector will determine whether the country can transform from a big auto country to a strong auto power,” said Han Hualong, chairman of JZ Capital, which participated in Haomo’s Series A round.
In 2023, it will release three sophisticated driving-assist system kits, with prices ranging from 3,000 to 8,900 yuan. Over 20 car types in China currently come equipped with Haomo’s ADAS systems.
About Haomo.AI
HAOMO.AI, which was established on November 29, 2019, is the top Chinese company for generating ADS in bulk. This AI business is focused on self-driving cars.
