AutoX, a China-based self-driving vehicle developer backed by carmakers Dongfeng Motor and SAIC Motor, has amassed tens of millions of dollars in pre-series B funding led by investment group Jumbo Sheen Group, according to 36Kr.
Several unnamed investors also contributed to the round, which was closed in December 2019 but had remained undisclosed until now.
Founded in 2016, AutoX is working on autonomous cars for driverless fleets for purposes such as last-mile delivery. The company introduced a self-driving taxi called RoboTaxi at this year’s Consumer Electronics Show, with a large-scale launch expected later this year.
The pre-series B financing will allow AutoX to launch operations in China. The company is also gearing up for a series B round, according to founder and chairman Xiao Jianxiong, but he did not offer details on timing or a target size.
AutoX previously closed a $100m series A round led by Dongfeng Motor in September 2019, with contributions from internet group Alibaba, Hong Kong Science and Technology Parks Corporation and Plug and Play China, a fund affiliated with incubator Plug and Play.
Dongfeng led a series A3 round in the eight-digit dollar range, 36Kr reported in April 2019, though the round had closed several months earlier. Chipmaker MediaTek and Capital Today had provided an undisclosed amount of series A funding in 2017.
AutoX’s shareholders also include private investors Zhong Shoucheng and Xu Xiaopeng, though the timing of their investment, as well as that of SAIC Motor’s commitment, could not be ascertained.
AutoX had received a total of $43m of capital by August 2018, according to TechCrunch.
