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Chinese self-driving firm DeepRoute.ai raises US$300 million from Alibaba, others
- Other investors in DeepRoute.ai’s latest funding round include Greater China-focused tech investor Jeneration Capital and Chinese carmaker Geely
- DeepRoute.ai will use the funds to double the fleet of its test robo-taxis to 150 by the end of this year, up from the current 70
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Chinese autonomous driving start-up DeepRoute.ai said on Tuesday it raised US$300 million from investors, including e-commerce giant Alibaba Group Holding, to expand its test fleet and develop technologies such as self-driving trucks.
Other investors in the funding round include Greater China-focused tech investor Jeneration Capital, Chinese carmaker Geely and some previous investors, DeepRoute.ai said in a statement. It did not disclose its valuation.
The investment comes as carmakers and technology companies are ploughing in billions of dollars into autonomous driving, aiming to take an early lead in what many see as the future of mobility.
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DeepRoute.ai’s rival WeRide, backed by Nissan Motor, said this month it would develop self-driving vans, while Pony.ai, backed by Toyota Motor, said earlier it would develop autonomous trucks.
03:06
China’s self-driving RoboTaxi hits the road
China’s self-driving RoboTaxi hits the road
DeepRoute.ai, which is testing vehicles in the Chinese cities of Shenzhen and Wuhan, will use the funds to double its fleet of test robotaxis to 150 by the end of this year from the current 70, its chief executive Zhou Guang told Reuters in an interview.
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