Leadgentech, an autonomous driving technology company, completed a Pre-A round of financing worth tens of millions of yuan in September this year. The investment comes from Deepshire, ZhenXin Capital, the well-known economist Deng Haiqing, and Leadgenchtech’s own core team. The company is set to receive exclusive financial advisory by Insight & Reliability Capital.
Earlier this year, on April 7, Leadgentech completed the strategic financing led by Ganzhou Financial Holding Group and Ganzhou Economic Development Zone Industrial Development Group.
Yang Wenli, CEO of Leadgentech, said that the funds are targeted at accelerating the commercialization process of urban autonomous driving buses and autonomous driving logistics vehicles. The company will also use the money to scale-up its technical teams.
Leadgentech was established in 2016. Its founder Yang Wenli earned his bachelor’s and master’s degree at the Department of Automation at Tsinghua University and his Ph.D. from Pennsylvania State University. Later he served as the Senior Chief Engineer of Western Data, the Senior R&D Engineer of IDL and the Chief Architect of ADU.
Leadgentech focuses its core technology lines on the autonomous driving passenger cars. In the first half of this year, the company began to consider a strategic transformation, choosing the fields of autonomous driving buses and feeder logistics that have clearer commercial applications.
The company focused its R&D on the decision, planning and control system of autonomous driving and has independently researched map acquisition tools and simulation tools based on available domestic commercial vehicle chassis. The company has mastered the technical ability to pass toll stations and complex traffic roads without driver assistance with its accumulation in decision algorithms and vehicle control.
At present, Leadgentech has obtained the autonomous driving vehicles city operation license issued by Ganzhou’s Municipal Government Development Zone. Its focus will be the deployment of autonomous driving buses and autonomous driving logistics vehicles for commercial purposes.
In 2022, the company is looking to test its 5 RoboTaxis. The company also wants to normalize the operation of 60 autonomous driving buses, the trial operation of 60 autonomous driving logistics vehicles, and the landing of demonstration projects in five different cities.