Geely-backed intelligent auto developer ECARX nets $194m Series A led by Baidu

ECARX's second-generation GKUI system, GKUI 19, is used to power Malaysian automotive firm Proton's X50 car model. Source: ECARX

Chinese Internet search giant Baidu has led a 1.3-billion-yuan ($194 million) Series A funding round in ECARX, an intelligent auto solutions provider backed by automaker Geely.

The new investment, which valued ECARX at over 10 billion yuan ($1.5 billion), also saw participation from investment firm SIG China, investment bank Lighthouse Capital, the exclusive financial adviser of the deal, said in a WeChat post on Monday.

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