Chinese intelligent driving solutions provider JIMU Intelligent has announced the completion of its Series B funding round, having raised over $15 million led by Translink Capital.
Other investors joining the round include Hyundai Motor Company, Estar Capital, HGC, Yucheng Fund and Optics Valley Elite Fund, the startup said in a statement.
Established in 2011, JIMU Intelligent is an artificial intelligence company dedicated to the R&D and application of intelligent driving, providing Level 0 to Level 3 intelligent driving solutions and derivative data products and services.
Its driving solutions utilize sensors like cameras, radars, and LiDARs to perceive the driving environment, including vehicles, lanes, pedestrians, traffic signs, free space and driver status, providing the basis for accurate decision making and control. The company claims to be the exclusive solution provider for more than 50 per cent of the top 15 bus manufacturers in China, while also working with global suppliers in the passenger vehicle segment.
JIMU Intelligent is currently focused on providing solutions for fleets, intelligent buses, and commercial vehicle insurance industries.
“Automobile intelligence is a golden opportunity, and the China market is growing rapidly. In the face of opportunities, we must always maintain a keen insight, and also be steadfast in the perfection of our technologies and products,” said JIMU Intelligent CEO Jianwei Cheng.
The new funding, Cheng added, will help the company continue to accelerate the development of intelligent driving technologies and its commercialization journey.
The funding makes JIMU the latest intelligent driving solution provider to have raised fresh capital this year. Last month, Chinese LiDAR maker Benewake secured an undisclosed sum as part of its Series B2 round led by Delta Capital, while Sequoia Capital China co-led a Series A investment of $32 million in Baraja Pty, an Australian LiDAR technology developer for autonomous vehicle applications