AV startup DeepRoute.ai raises $300m

Chinese autonomous driving startup DeepRoute.ai told the Reuters news agency on Tuesday it lifted US$300m from buyers like Alibaba to extend its exam fleet and establish engineering like self-driving trucks.

Other buyers in the funding spherical involve Bigger China-concentrated tech investor Jeneration Capital, Chinese automaker Geely and some preceding buyers, DeepRoute.ai reported in a statement cited by the news agency. It did not disclose its valuation.

DeepRoute.ai, which is tests vehicles in Shenzhen and Wuhan, will use the cash to double the fleet of its exam robo-taxis to a hundred and fifty by the conclude of this 12 months from the present-day 70, chief govt Zhou Guang told Reuters in an job interview.

It will also extend its workforce to 600, like in-vehicle security motorists, by the conclude of this 12 months from four hundred now.

Established in 2019, DeepRoute.ai collaborates with Dongfeng Motor on self-driving engineering. It also is effective with Geely’s ride-hailing device Cao Cao.

DeepRoute.ai will also establish self-driving light obligation trucks for urban logistics solutions, Zhou told Reuters, introducing Alibaba would be a significant client.

Alibaba reported in June it strategies to establish self-driving trucks with its logistics subsidiary Cainiao, Reuters pointed out.