Chinese autonomous driving technology firm Motovis has raised 100 million yuan ($14 million) from new investors CGP Investment and Boxin Capital, according to an announcement.
This marks the Series A2 round of financing for the company.
Its returning investor Orca Capital also participated in the current round of funding. Orca Capital earlier invested ‘millions of US dollars’ in Motovis’s Series A+ round in 2018.
Shanghai-based cross-border investment bank CVCapital served as a financial advisor of the deal.
Driven by novel technologies such as deep learning, visual simultaneous localization (VSLAM), and multi-sensor fusion, Motovis specializes in providing autonomous driving solutions. Its automatic driving systems enables precision real-time perception, blind spot monitoring, navigation, autonomous parking and emergency braking, among others.
Headquartered in Shanghai, Motovis has also had a business and customer service centre in Shenzhen, and an AI research institute in Australia.
Motovis will deploy the proceeds to spruce up its technologies and products, consolidate its partnerships, and facilitate mass productions.
Earlier in 2017, Motovis had raised $10 million in its Series A round from KeyTone Ventures and Lanting Capital.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from May 11-13, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Lehe Food||Guangzhou||56 million||C||DragonBall Capital, CDH Investments||Guangzhou Hezhi Investment Management||E-commerce|
|Panghu Luxury||Beijing||25 million||B||Fortune Capital, INCE Capital||Befor Capital||E-commerce|
|Bell Education Group||Shenzhen||17 million||-||-||Yuexiu Industrial Fund, Yuanzheng Investment||Ed Tech|
|Qitan Technology||Chengdu/Beijing||14 million||-||Gaorong Capital||Yinxinggu Capital, Alwin Capital||Nanotechnology|
|Zihaiguo||Chongqing||14 million||B||MatrixPartners China||-||Food Tech|
|Motovis||Shanghai||14 million||A2||-||CGP Investment, Orca Capital, Boxin Capital||Autonomous Cars|
|Nanjing Wedeng Medical||Nanjing||14 million||B||Sinovation Ventures||-||Medical Devices & Equipment|
|Common Rail System’s Family||Shanghai||14 million||B||Wanrong Capital||Panlin Capital, Cybernaut Investment||Industrials|
|Syrius||Shanghai||10 million||A+||Sequoia Capital China||Zhencheng Capital, Tryin Capital, Pksha Sparx Algorithm Fund, Future Capital, ZhenFund||Robotics & Drones|
|WakeDtate||Zhuhai||10 million||B||Sequoia Capital China, Redpoint China Ventures||IDG Capital||Big Data|
|Elite Pharma||Shanghai||1.4 million||A||-||Kaitai Capital, Zhongnan Ventures||Pharmaceuticals|
|DOCO||Shanghai||1.4 million||Strategic Investment||Novena Global Lifecare||-||Beauty|
|Hong Jing Driving||Hangzhou||1.4 million||Pre-A||Bluerun Ventures||Translink Capital, Linear Capital||Autonomous Cars|
|Inssent||Beijing||* 1 million||Pre-A||Shunwei Capital||Source Code Capital||Financial Service|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopted the smallest number in the range, which is “ $1 million” in the given example.