Shunwei Capital-backed autonomous driving system solutions startup Beijing Idriverplus Technology Co., has pocketed “tens of millions of US dollars” in a Series C+ round from Huaxia Weiming Investment and Xin Ding Capital, a Beijing-based investment firm with interests in new energy vehicles, healthcare, semiconductors, and artificial intelligence (AI).
Idriverplus will use the latest proceeds for autonomous technology innovation, robotaxi and special vehicles’ commercialisation, overseas market expansion, and talent advancement, it said in a statement.
In May 2020, Idriverplus had garnered “tens of millions of US dollars” in a Series C1 round led by HOPU-Arm Innovation Fund.
With nearly 300 professionals on its rolls, the Beijing-based startup develops self-driving vehicles, and also makes multi-functional solutions for autonomous driving systems. Its flagship product, Woxiaobai, is a smart sweeper for automatic cleaning, watering, and garbage collection on road surfaces.
Chinese Xiaomi Corporation’s Shunwei Capital along with Baidu and JD.COM had together poured 150 million yuan ($22 million) in Idriverplus’ Series B round in 2018. Prior to that, Shunwei and JD.COM invested 60 million yuan ($8.8 million) in its Series A round in June 2017. Its early-stage investors include BAIC Motor, SAIC Motor, China Telecom, and GF Xinde Investment, among others.
CHINA DEAL MONITOR
DealStreetAsia has put together a table listing all prominent venture capital transactions in the Greater China region on September 11-14, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|GemPharmatech||Nanjing||59 million||Pre-IPO||Hillhouse Capital||YF Capital, Morgan Stanley China Investent, Sequoia Capital, TF Capital||Biotech|
|Hangzhou Sumgen Biotech||Hangzhou||32 million||B||Addor Capital, Cowin Capital, Sinowisdom Investment Holdings||BOCOM International, Shanghai Haoshuo Investment, Dynamic Capital||HealthTech|
|inCarey||Hangzhou||30 million||B+||-||Long Hill Capital||HealthTech|
|Jifu Technology||Shenzhen||* 14 million||C||Greenwoods Investment||Bojiang Capital, TopoScend Capital, YF Capital, Beijingdouxing Investment||HealthTech|
|Beijing Idriverplus Technology||Beijing||* 14 million||C+||-||Huaxia Weiming Investment, Xin Ding Capital||Autonomous Driving|
|Leagsoft||Shenzhen||14 million||B||China Internet Investment Fund||Gaoxintou||Internet of Things|
|RVBUST||Shenzhen||10 million||A||-||Gaorong Capital||Robotics & Drones|
|Jiniu Technology||Shanghai||7 million||Pre-A||-||Sequoia Capital China, Eminence Ventures||Insuretech|
|Sharkfit||Binzhou||2.2 million||A||-||Plum Ventures||Fitness & Wellness|
|Grain Rain||Guangzhou||* 1.4 million||-||Jinding Capital||-||Beauty & Hygiene|
|Makerstore||Zhengzhou||1.4 million||Angel||We Capital||-||E-commerce|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “100 million yuan ($14 million)” in the given example.