Bags B2 Round of Financing Worth Nearly $30M

Autonomous driving startup has announced its completion of a B2 round of financing totaling 200 million yuan ($29.8 million). The firm has secured investment from Shanshan Venture Capital, Opple Capital, existing shareholder SkyChee Ventures and company founder Huang Chao. The funds are mainly to be used for R&D and the commercial operation of autonomous driving technology, as well as for the expansion of the global market. was founded in August 2017 by Huang Chao, who used to serve as the chief engineer and head of the autopilot project at Didi. In December of the same year, a fleet of robotaxis was set up, and road tests were started in Shanghai. The firm actively invested in automated driving commercial vehicles, completed the R&D of automated driving trucks, and obtained a Shanghai automated driving truck test license in 2019. took the lead in applying automated driving technology to the field of urban sanitation, and released an automated driving fleet covering different models of 1-18 tons, which have been applied to complex operation scenarios.

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Gong Yi, the chairman and general manager of Shanshan Venture Capital, said: “The operation of in more than 20 cities around the world has allowed us to see a new model of automated driving. They have really solved the recruitment problems and labor costs of customers and owners. At the same time, it also allows front-line sanitation workers to gradually get rid of dangerous and harsh working environments.”

At present, the firm has more than 150 self-driving sweepers worldwide, and the vehicles have been sold to Switzerland, Germany, the United States, as well as cities like Shanghai, Beijing, Guangzhou, Zhengzhou, Nanjing, Hefei and Tangshan. The cumulative operating mileage exceeds one million kilometers.