JingChi Inc., a Bejing, China-based autonomous driving startup, completed a combined $52m Pre-Series A funding round.
The round was led by Qiming Venture, NVIDIA GPU Ventures, and other investors.
The company intends to use the funds to expand its research and development teams globally, and ramp up deployment of a fully Level 4 autonomous driving test fleet in China by the end of 2017. In conjunction with the funding, Duane Kuang, Founding Partner at Qiming, will join JingChi’s board of directors.
Founded in early April 2017 by Jing Wang, CEO, and Tony Han, CTO, JingChi completed autonomous driving tests in a closed venue, obtained a license for testing autonomous vehicles on California’s public roads, and then completed its first autonomous mode testing on public roads in Sunnyvale, California.
In August, the company signed a comprehensive agreement with Anqing City, China, to deploy a fleet of 50 autonomous test vehicles with initial operations slated to launch as early as the end of 2017.
JingChi plans to deploy hundreds of autonomous vehicles powered by NVIDIA DRIVE PX in 2018 to provide a “Robotaxi” ride-hailing service in Anqing City.
The company has more than 50 full time employees.
FinSMEs
26/09/2017