Autonomous Driving Technology Firm JIMU Intelligent Bags $31 Million in C1 Financing

jimu
(Source: JIMU Intelligent)

Chinese autonomous driving solutions provider JIMU Intelligent on Thursday announced the completion of a C1 round of financing totaling 200 million yuan ($31.26 million), jointly led by Forebright Capital and SDIC Unity Capital, followed by a group of well-known institutions including AVIC Pingshan, Founder H Fund, MY Tsinghua Capital and UMC Capital.

After the completion of this round of financing, JIMU Intelligent will further increase its R&D investment in autonomous driving, intelligent and connected vehicles, continuously expand its customer base and accelerate the mass production of high-level intelligent driving technology.

According to the company, since its establishment, JIMU Intelligent has been committed to becoming an international intelligent driving technology provider, offering self-developed intelligent driving solutions based on multi-sensor fusion and domain controllers for global OEMs and first-class suppliers.

JIMU Intelligent’s products have reportedly been applied in batches to nearly 100 models owned by nearly 30 automakers at home and abroad. Up to now, JIMU Intelligent has been designated by several advanced driver-assistance systems (ADAS) projects for passenger cars, supplying over 80% of passenger automakers and over 60% of big truck makers in China. Its market share of domestic solutions for active safety systems of commercial vehicles ranks among the top three.

JIMU Intelligent has accumulated rich experience in mass production across the field of commercial vehicles. Since 2020, it has won several front loading projects of L1 to L2 new energy passenger cars. After this recent financing, the company will continue to actively expand the passenger car market.

SEE ALSO: Baidu Executive: The Death Rate of Traffic Accidents to be Reduced by 90% In Era of Autonomous Driving

In addition, JIMU Intelligent is actively exploring overseas markets. At present, it has reached extensive cooperation with many international Tier 1 suppliers, namely companies that supply parts or systems directly to OEMs, and exported intelligent driving solutions to Japan and South Korea in batches.

The article also mentioned that at present, the company’s new round of financing is progressing smoothly.