Chinese autonomous driving company Haomo.AI announced on Tuesday that it has successfully raised 300 million yuan ($41.41 million) in its Series B2 round, following a previous funding of over 100 million yuan just two months ago.
The latest investment comes from a newly formed fund by existing investor JZ Capital and the Changxing government in Huzhou, Zhejiang province, indicating a strong show of confidence in Haomo’s future prospects.
According to Haomo, the fresh capital injection will be primarily directed towards research and development efforts, aiming to solidify its leading position in the mass-produced autonomous driving solutions sector in China.
“The development of China’s intelligent vehicle sector will determine whether the country can transform from a big auto country to a strong auto power,” remarked Han Hualong, chairman of JZ Capital, emphasizing the strategic significance of Haomo’s innovations in the context of China’s automotive industry.
Chairman of Haomo, Zhang Kai, outlined the company’s strategy for the highly competitive market in 2024 and beyond, stating, “We will leverage extremely cost-effective advanced driver assistance systems to win clients.”
CEO Gu Weihao added, “We will continue to invest in large models, big computing power, big data research, and develop cognitive products in house to ensure a solid technological foundation for Haomo.”
Haomo has already made significant strides, unveiling three advanced driving-assist system kits in 2023, priced between 3,000 yuan and 8,900 yuan. Presently, over 20 vehicle models in China are equipped with Haomo’s ADAS solutions.
