Self-driving startup DeepRoute has raised US$50m in its pre-series A funding round to expand the global presence of the company’s autonomous driving solutions. The financing round was led by Fosun RZ Capital, the Beijing-based venture capital arm of Chinese conglomerate Fosun International.
Shanghai-based GoldenSand Capital, Yunqi Partners, and Ventech China, as well as Shenzhen-based Green Pine Capital Partners also contributed to the funding round. The funds will enable DeepRoute to accelerate the research and development of autonomous technologies for passenger vehicles.
“Our team is very excited about the most recent round of funding we have received and how these funds will help further the advancement of autonomous vehicles on our roads,” said Shuang Gao, chief operating officer of DeepRoute. “Our ongoing research and development of industry technologies will continue to prioritize the safety and security of the public as we strive to bring full vehicle autonomy worldwide.”
With research centers in Shenzhen, Beijing and Silicon Valley, DeepRoute specializes in Level 4 autonomous driving solutions. The growing startup is dedicated to designing comprehensive self-driving technologies including sensors, high-definition mapping and positioning, and machine-learning, in addition to products like hardware systems, infrastructure, and simulators that perform with precision accuracy.
The company’s core technology team includes an international group of experts from well-known universities such as Carnegie Mellon University, Cambridge and Columbia University, as well as world-class companies such as Google, Microsoft, Ford, Intel, General Motors, Cruise, Baidu, Huawei and Tencent.