China Deal Monitor: VC-backed Idriverplus closes Series C1 round and more updates

Chinese autonomous driving system solutions developer Beijing Idriverplus Technology Co., Ltd has garnered ‘tens of millions of US dollars’ in its Series C1 round of financing led by the HOPU-Arm Innovation Fund, according to a company statement.

The latest round comes two months after it secured $30 million in Pre-C funding from global semiconductor and software design player ARM earlier in March. 

Established in 2015, Idriverplus specializes in developing multi-functional solutions for autonomous driving systems. Apart from solutions, Idriverplus also develops self-driving vehicles. In partnership with Tsinghua University and other automobile companies, Idriverplus has achieved  1300,000 km of autonomous driving test mileages. 

The company claims to have served a group of leading companies including  BAIC Motor, SAIC Motor, Dongfeng, and China Telecom. Previously, Idriverplus had closed rounds of financing from Xiaomi’s Shunwei Capital, JD.COM, Baidu, GF Xinde Investment, BAIC Capital, Innoangel Fund, Infore Holding, among others.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from May 25-27, 2020. 

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.