China’s intelligent driving startup JIMU raises $15m Series B

Traffic travels along the Second Ring Road in Beijing, China, on Wednesday, Dec. 2, 2015. Photographer: Qilai Shen/Bloomberg

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

Also Read:

Self-driving startup Aurora raises $530m from Sequoia, Amazon, others

China Digest: 360 Enterprise closes $132m Series B; LiDAR maker Benewake raises funds

US investment firm Translink Capital to raise China Mobility Fund

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.

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.