xi's moments
Home | Motoring

Haomo.AI raises 300 million yuan in Series B2

chinadaily.com.cn | Updated: 2024-04-23 14:47

There are over 20 vehicle models that feature Haomo.AI's solutions. [Photo provided to chinadaily.com.cn]

Haomo.AI, a Chinese autonomous driving company, said on Tuesday that it has raised 300 million yuan ($41.41 million) in its Series B2 round. The company raised more than 100 million yuan two months ago.

The new investment was from a fund newly formed by existing investor JZ Capital and the Changxing government in Huzhou, Zhejiang province.

Haomo said the investment will be used on R&D to maintain its leading position in the sector of mass-produced autonomous driving solutions in China.

"The development of China's intelligent vehicle sector will determine whether the country can transform from a big auto country to a strong auto power," said Han Hualong, chairman of JZ Capital, which participated in Haomo's Series A round.

Haomo Chairman Zhang Kai said the company will leverage extremely cost-effective advanced driver assistance systems to win clients in the highly competitive market in 2024 and beyond.

"We will continue to invest in large models, big computing power, big data research, and develop cognitive products in house to ensure a solid technological foundation for Haomo," said CEO Gu Weihao.

Haomo has unveiled three advanced driving-assist system kits in 2023, priced between 3,000 yuan and 8,900 yuan.

By now, there are more than 20 vehicle models featuring Haomo's ADAS solutions in China.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349