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.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|BYD Semiconductor||Shenzhen||265 million||A||-||Sequoia Capital China, CICC Capital Management, SDIC Fund Management, Himalaya Capital||N/A|
|Shenzhen Dekun Logistics||Shenzhen||70 million||-||-||-||N/A|
|Galaxis Technology||Jiaxing||* 14 million||D||CICC Capital’s sub-fund||Industrial Bank, Sumin Investment, SinoKing Capital, Oriza Prior, V-Capital, Huagai Capital||Robotics & Drones|
|Guangzhou BeBetter Medicine Technology||Guangzhou||* 14 million||A||Lucky Source Funds, Yuexiu Financial Holdings Group||Guangzhou Sanmei Investment Management (Sanmei Capital)||Health Tech|
|Beijing Idriverplus Technology||Beijing||* 10 million||C1||HOPU-Arm Innovation Fund||-||Electric/Hybrid Vechicles|
|Lead Medical||Beijing||* 1.4 million||A2||SIG||Daya Ventures||Health Tech|
|Artechmed||Shanghai||* 1.4 million||-||Anlong Fund||Tengyun Capital, Dingxin Capital, Sinopharma Capital||Medical Devices & Equipment|
|Lingxiwei||Shenzhen||* 1.4 million||Pre-A||Vertex Ventures||-||N/A|
|Modou||Beijing||1.4 million||Angel||Qingsong Fund||Beijing Life Science Industry Development Fund||Food Tech|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” and 100 million yuan ($14 million).