A Chinese autonomous driving developer Jingchi Corp and a medical equipment maker Shanghai United Imaging Healthcare announced updates on their series A rounds.
Jingchi Corp in process to raise $100m
Jingchi Corp, an autonomous driving developer, is raising a $100-million series A round after it received $30 million in its angel round from unnamed investors, according to Chinese media’s report citing the company’s announcement.
The Silicon Valley-based startup, founded by Baidu Inc’s former senior vice president Wang Jing, has obtained a licence to test autonomous vehicles on public roads in that state, following Chinese tech firms Baidu, NIO and TuSimple, the company said.
It plans to use the proceeds to move its operation to China and launch several autonomous vehicles for ride-hailing services in some cities there.
Prior to this round, Aplus Capital invested an undisclosed sum in Jingchi in March.
United Imaging Healthcare closes $500m series A
Shanghai United Imaging Healthcare, a medical imaging and equipment manufacturer, has raised RMB3.3 billion ($500 million) in series A round led by a Chinese private equity firm SDIC Fund Management Co.
It is the largest medical device funding in China to date and values Shanghai United Imaging at $5 billion. The company offers a complete line of high-end imaging machines with the goal of providing better machines while undercutting the prices of foreign imaging device makers by 20 per cent.
The company plans to use the latest investment in R&D in new products and improve existing ones. It is developing a 3D imaging equipment that can monitor real-time dynamic responses of all substances for the whole body. It expects to apply the new technology in early 2018.
SDIC Fund also jointly led a $66 million series D financing round in CF PharmaTech in August.