Chinese Self-Driving Startup AutoX Completed Pre-B Round of Financing

Chinese self-driving startup AutoX (Source: AutoX)

According to 36kr, AutoX, a self-driving startup, announced it had completed a Pre-B round of financing worth tens of millions of dollars in late December, led by Shenzhen Jumbo Sheen Group, followed by other Shenzhen and Chaoshan investors. This round of financing will mainly be used for launching operations in the Chinese market. AutoX founder and chairman Xiao Jianxiong revealed that they are about to launch a round of series B financing.

Founded in 2016 and headquartered in Shenzhen, AutoX has received seed round investment from Zhang Shoucheng and Xu Xiaoping, and investment from Capital Today and MediaTek of Taiwan in 2017, followed by strategic investment from SAIC Motor corporation. In April 2019, the company announced that it had received tens of millions of dollars in A3 financing led by Dongfeng.

AutoX has been conducting autonomous driving tests and trial operations in central areas of Shenzhen since 2018. AutoX had also partnered with major car companies including Dongfeng, BYD and Great Wall, taxi company Pengcheng Electro and new energy vehicle logistics operation service provider DST to expand the application of its auto-driving technology.

SEE ALSO: Chinese Tech Companies and Products at CES 2020

At this year’s CES in Las Vegas, AutoX announced its official cooperation with the European automobile giant FCA, and launched RoboTaxi, China’s first self-driving taxi that can be truly unmanned. The unmanned RoboTaxi model will be officially launched in Shenzhen, Shanghai and other places on a large scale this year, becoming part of AutoX’s trial operation fleet.