Wednesday, July 24, 2024
BusinessXiaomi invests in another self-driving technology provider

Xiaomi invests in another self-driving technology provider

Chinese smartphone giant Xiaomi is participating in Geometrical Perception and Learning Co’s (G-PAL) approximately RMB 400 million ($61.88 million) Pre-A series funding round as the lead investor in the Pre-A2 round, the self-driving technology provider said Monday.

G-PAL said the funding round is focused on accelerating the mass production of next-generation architectures for autonomous driving software and hardware integration systems.

G-PAL was founded in October 2018 and is positioned as a Tier 1 supplier to automotive companies. The company provides “fused sensing + intelligent decision making” software and hardware integration systems for L2-L4 autonomous driving based on machine perception and deep learning.

G-PAL’s 4D millimeter-wave imaging radar-based fusion sensing solution has accumulated a large number of road test scenarios and data, and has achieved small volume deliveries in the Shanghai Yangshan Port self-driving container truck and heavy-duty flatbed truck projects, said Xue Dan, founder and CEO of G-PAL.

The company is working with car companies on passenger car models for pre-sale in 2023, in the front-fit testing phase.

Prior to this, Xiaomi invested in two other technology companies in the automotive space.

Chinese self-driving startup ZongmuTech announced on June 3 that it closed a cumulative $190 million Series D round of funding from a fund backed by giant Xiaomi.

This is one of the first investments made by a fund backed by Xiaomi in the industry chain since the company announced its entry into the car-making space on March 30.

On June 8, Hesai Photonics Technology, a LiDAR manufacturer, announced the completion of a Series D funding round of more than $300 million, with Xiaomi also as one of the lead investors.

This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.

CnEVPost is a website focused on the coverage of the new energy vehicle industry in China. As with our original intent for CnTechPost, there are a lot of interesting things happening in the Chinese EV industry every day, but they are not covered by the mainstream English language media. We're here to keep track of what's happening in the Chinese EV industry and strive to be the first to publish what we see in English.