HoloMatic, a startup company dedicated to providing autonomous driving solutions, announced that it had secured an exclusive round of financing from GAC Group Capital, a subsidiary of GAC Group.
GAC Group’s exclusive investment in HoloMatic will help integrate the two companies’ strengths while accelerating the rapid iteration of GAC Group’s automated driving technology and industrialization. The deal will also help reduce overall mass production costs. According to the plan, a number of GAC Group’s models equipped with HoloMatic’s autonomous driving system will be available in 2022.
Founded in 2017, HoloMatic hosts a full-stack automated driving R&D solution with a complete layout from artificial intelligence algorithms to embedded systems, from big data closed loop to system-iterative evolution. The company’s focus has grown from driving and parking applications to the complete deployment of unmanned driving solutions for various other situations.
As the capital operation, investment and financing platform of GAC Group, GAC Capital has successfully invested in more than 30 well-known projects in the fields of intelligent and connected vehicles, new energy and semiconductors since 2019.
The deal between HoloMatic and GAC Motor has been in the works for quite a while with an initial agreement being signed back in October 2021. In the field of intelligent and connected vehicles, GAC Group and HoloMatic have carried out in-depth cooperation in the development of L2 + + driving functions, autonomous and memory parking, and have achieved phased results. At present, the two companies are fully engaged in the in-depth research and development of L3 and higher automatic driving technologies. In addition, HoloMatic and GAC R&D Center have reached a strategic cooperation and started to provide automatic driving technologies for GAC Group’s vehicle platform.