Smart driving star-up Novauto closes multi-million-yuan Series A led by Evergrande

Novauto announced that it has completed its Series A round of financing, raising tens of millions of yuan. The round was led by Evergrande Hi-Tech, with participation from Zhongguancun Frontier Fund, Hemi Venture, Baoju Investment and Turing Ventures.

Novauto announced that it has completed its Series A round of financing, raising tens of millions of yuan. The round was led by Evergrande Hi-Tech, with participation from Zhongguancun Frontier Fund, Hemi Venture, Baoju Investment and Turing Ventures.

Proceeds from this round of financing will be used for technology research and development and talent recruitment, building a “high-performance intelligent driving control platform” through the integration of software and hardware, and accelerating the application implementation in high-level autonomous driving scenarios.

Established in April 2019, it was jointly incubated by the School of Vehicle and Mobility, and the Department of Electronic Engineering of Tsinghua University. It mainly provides car manufacturers and Tier 1 OEMs with an isomerized, highly equivalent and highly reliable intelligent driving control platform. Its products include intelligent driving computing platform, system software platform and intelligent driving algorithm acceleration platform.

In response to this investment, Yan Yun from Evergrande Hi-Tech commented that Novauto has a large number of innovative technologies independently researched and developed in key technologies such as functional safety and perception of automobiles; and intelligent autonomous driving vehicles, as a national strategic emerging industry, has a huge market potential.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/19/smart-driving-star-up-novauto-closes-multi-million-yuan-series-a-led-by-evergrande/.

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