PhiGent Robotics Completes Second Settlement of Round-A Financing

Automatic driving solutions provider PhiGent Robotics announced on August 15 its securing of 100 million yuan ($14.8 million) in the second delivery of its round-A financing, jointly led by Shenzhen Capital Group and Houxue Fund, while Jinshajiang Venture Capital continued to increase its holdings. It has only been three months since its first delivery of $30 million in round-A financing led by INCE Capital.

The founding team of PhiGent Robotics comes from AI startups such as DEEPHi and Horizon Robotics, and its core team all comes from top AI algorithm, software, chip companies and leading console factories in China and abroad. Up to now, the team size has reached 200 people, and it is continuously attracting industry experts to join.

In less than one year since its establishment, the company has set up R&D and service centers in Beijing, Shanghai, Hangzhou and Suzhou. The introduction of Shenzhen Capital Group with industrial investment advantages will also accelerate the company’s South China R&D and sales service center’s landing in Shenzhen.

As a leading provider of the next-generation automated driving solutions with visual 3D understanding as the core, PhiGent Robotics has formed the product layout of “high-level automated driving solutions + binocular vision radar software and hardware system.” Among them, the high-level automated driving solution can support the recognition of more than 100 target types at the perception level, with all indicators reaching the industry-leading level. The binocular vision radar, which is equipped with its self-developed algorithm, can support 2MP-8MP analytical power and flexible configuration of 60°/100°/120° field angles.

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So far, the company has acquired a number of leading car factory projects, and it will deliver automatic driving solutions covering active, safe and high-speed pilot and other functions in the third and fourth quarters of this year, to be gradually implemented in 2023. At the same time, the team’s self-developed binocular vision radar products, which have been fully functional in June 2022 and passed more than 50 vehicle regulation tests, will be officially launched at the end of the year.