Intelligent Driving Solution Provider JIMU Intelligent Raised CNY 200 million in Series C1 Funding
Friday, October 29, 2021
WUHAN, China, Oct. 21, 2021 /PRNewswire/ -- JIMU Intelligent, the global leading intelligent driving solution provider, has successfully raised CNY 200 million in a Series C1 funding round. This round was jointly led by Forebright Capital and SDIC Unity Capital, followed by well-known institutions such as AVIC Pingshan, Founder H Fund, MY Tsinghua Capital, UMC Capital and others.
The capital raised will allow JIMU Intelligent to further increase its R&D investment in intelligent driving, connectivity and autonomous driving in specific scenarios, continue to expand its customer base, and accelerate the mass production of high-level intelligent driving technologies.
In this round of funding, JIMU Intelligent has introduced top-level investment institutions, such as renowned Forebright Capital, SDIC Yangtze backed by State Development & Investment Corp., AVIC Pingshan, a subsidiary of China Aviation Industry Corporation, Founder H Fund, a wholly-owned subsidiary of Founder Securities, MY Tsinghua Capital backed by Tsinghua Strait Research Institute, and UMC Capital, an internationally renowned semiconductor group,etc. These new shareholders will promote the development of JIMU Intelligent with their industrial resources and capital.
Since its founding in 2011, JIMU Intelligent has been committed to becoming an internationally competitive intelligent driving solution provider, providing global OEMs and Tier-1 suppliers with self-developed leading intelligent driving solutions based on multi-sensor fusion and domain controllers. Relying on the industry-leading technology and cost-effective advantages, JIMU's intelligent driving products have been applied in batches to around 100 models of nearly 30 OEMs globally. Up to now, JIMU Intelligent has won multiple passenger vehicle ADAS projects, supplying 80%+ head bus OEMs and 60%+ head truck OEMs in China, ranking top three in the market share of commercial vehicle L1-L2 solutions among Chinese companies.
Thanks to its rich experience in mass production in the commercial vehicle field, JIMU Intelligent has opened the passenger car market since 2020, and has won a number of L1~L2 new energy passenger car projects. In terms of products, JIMU's L2+ domain controller will be completed by the end of this year. After this funding, the company will continue to actively expand the passenger car market, trying to enter the supply chains of at least five leading car companies in the next two years, and becoming a mainstream intelligent driving solution provider in the passenger vehicle field.
In addition, JIMU Intelligent is actively exploring overseas markets. It has reached extensive and in-depth cooperation with many international top T1 suppliers, and has taken the lead in exporting intelligent driving solutions to Japan, South Korea and other automotive powerhouses.
At present, the company's new series funding is progressing smoothly.
Regarding this funding, Cheng Jianwei, founder and CEO of JIMU Intelligent, said: "Thanks to all our investors and customers for their recognition and support. We will actively grab the opportunities of the era of intelligent driving, make every effort to promote more technological breakthroughs and product innovations, and link industry ecosystem partners to create an intelligent driving enterprise with international competitiveness."
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SOURCE JIMU Intelligent
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