China-based autonomous driving technology producer AI-Drive has secured $14m in series A capital from investors including an unnamed China-based, US-listed e-commerce company, China Money Network wrote on Friday.
Shunwei Capital also contributed to the round. The unnamed e-commerce business could be Alibaba or JD.com, both of which fit the description of having floated in the US.
Founded in 2015, AI-Drive is working on a central decision-making platform for autonomous driving, with a focus on logistics and unmanned aerial lift vehicles. The company claims to have raked up a total of 300,000 miles in autonomous driving.
Xu Dalia, founding partner at Shunwei Capital, said: “We are optimistic about the change that smart vehicles will bring to the whole industry, and we have made a number of investments in each segments of autonomous driving.
“AI-Drive was a surprise when we were researching the industry, and we were impressed by the team in terms of their expertise in data testing, knowledge of autonomous driving technology, and the understanding of the vehicle industry.
“We believe Chinese companies will dominate the local smart vehicle industry in the future.”