Autonomous Driving Startup Yunchuang Zhixing Completes Pre-A Round Financing
Yunchuang Zhixing, a self-driving technology startup, announced on July 19 that it has completed pre-A round financing totaling tens of millions of yuan. The funding was led by NIO Capital, followed by Xinghang Venture Capital and Yongzhi Investment.
Founded in March 2021, Yunchuang Zhixing is an automated driving company that focuses on the sanitation industry sector and is committed to creating a total solution for unmanned sanitation operations. The funding would be used for the company’s core technology R&D, mass production scale implementation and wider commercialization deployment. The company previously completed an angel round of investment from ZUF Capital in August 2021.
Its sanitation operation model sets up a full-function platform from unmanned sweeping vehicles to remote cloud control management and an intelligent sanitation operation platform. It realizes the commercialization of the overall solution for unmanned sanitation operations.
In November 2021, Yunchuang Zhixing and China Telecom won the bid for the unmanned cleaning operation project of the Jinji Lake Scenic Area in Suzhou. Yunchuang Zhixing deployed five self-developed YC-200 driverless sweepers in this spot as an operation team, thus reducing the labor force of dozens of cleaners. Starting with the Suzhou Jinji Lake project, Yunchuang Zhixing has been promoting similar projects in Nanjing, Wuxi, Hangzhou, Shenzhen, Chengdu and other places.
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Ian Zhu, Managing Partner at NIO Capital, said: “Along with the continuous development of automated driving, it is observed that the application of automated driving has spread from the field of car travel into more vertical scenarios. Automated driving is working as a ‘new productivity variety’, engaged in all kinds of scenarios. The sanitation industry has a large market size, with labor costs accounting for 60%. The shortage of labor and the difficulty in regulating operations make us believe that this is an excellent scenario for autonomous driving to realize its potential.”