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.