UISEE Technologies Raises Several Hundred Million Yuan in Round C Financing
On March 24th, UISEE Technologies, a cutting-edge driverless solution provider, officially announced the completion of a round C financing worth several hundred million yuan. This round of investment was led by Dongfeng Asset Management and Chongqing High-tech Holdings under Chongqing High-tech Development and Construction Investment Group. The funds will accelerate the broad-based expansion of UISEE Technologies in key strategic industries.
Yin Ming of Dongfeng Asset Management commented on the deal: “As a leader in commercial automated driving among implementation solution providers, UISEE Technologies has demonstrated its full-stack technological capabilities in several key business scenarios. We look forward to further strengthening the cooperation between our companies and relying on our respective resources in the future. These will include automated driving demonstration projects such as the mass production of passenger cars, commercial vehicles and agricultural machinery and equipment in implementation, so as to build an automated driving ecosystem of technology, industry, and capital.”
Zhang Mengya of Chongqing High-tech Holdings also spoke about the financing: “Automobile intelligence has always been our focus and direction. This cooperation with UISEE Technologies will accelerate the progress of the company’s mass production of passenger cars for factory installations, and further enrich and improve the local automobile ecological cooperation chain and exert the industrial agglomeration effect by relying on the passenger car headquarters set up by the company in Chongqing.”
With the support of the two new shareholders and the local government, UISEE Technologies will set up a passenger car business headquarters in Chongqing, and apply L4-level U-Drive® technology to factory-installed mass production fields such as L2+ and L2++, which can provide product matrices such as Robobus, Robotaxi, unmanned delivery vehicles and unmanned patrol cars.
Founded in 2016, UISEE Technologies leads in the creation of “All scenario + Unmanned + All-Weather” solutions. Based on the company’s own “U-Drive ®” platform, it is able to implement the large-scale, rapid replication of unmanned solutions in different scenarios to meet the high-level situational demands of its customers.
The company is one of the first companies in China to implement unmanned commercial applications, and has successfully built a benchmark for unmanned logistics application in large airports such as Hong Kong, Guangzhou, Urumqi and Xianyang, Xi’an. Smart logistics solutions have been delivered for the automobile, chemical, tobacco, food and other industries, and more than 30 leading industry partners have successfully helped to carry out digital intelligence transformation and upgrades.
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Wu Gansha, CEO of UISEE Technologies, is optimistic about the future development of the company: “In breadth, UISEE Technologies will continue to strengthen the technical and commercial route of “model generalization and situational scheme”. It has become the first choice for automated driving upstream and downstream partners of thousands of businesses in the world. In depth, it leverages the resources of Dongfeng Motor Corporation and Chongqing to accelerate the mass production of a “universal model together with the most difficult scenario” in passenger car products, and creates a model of “quantum transition” formed by the joint efforts of capital, industry, and government. “
As of February 2023, the commercial operation mileage of UISEE Technologies to safety officers has exceeded 2 million km. At present, it has cooperated with many main engine factories and Tier 1 developments.