DeepRoute.ai, a Fremont, California-based international self-driving technology company is focused on advancing urban logistics and popularizing robotaxi, has closed a Series B funding round with an investment totaling more than $300 million.
The oversubscribed round was led by Alibaba Group (NYSE: BABA), Jeneration Capital with previous investors Fosun RZ Capital, Yunqi Partners, and Glory Ventures also participated in the round.
The fund will be used to further research, development, help scale automaker collaboration, fleet operation, and expansion of the team.
Company: Shenzhen Deeproute.ai Co., Ltd.
Raised: $300.0M
Round: Series B
Funding Month: September 2021
Lead Investors: Alibaba Group (NYSE: BABA)
Additional Investors: Jeneration Capital, Fosun RZ Capital, Yunqi Partners, and Glory Ventures
Company Website: https://deeproute.ai/
Software Category: autonomous driving solutions
About the Company: DeepRoute.ai has autonomous driving solutions for both medium-duty trucks and robotaxis. The DeepRoute-LINK and DeepRoute-INJOY solutions (respectively), will provide sustainable and profitable revenue streams for the future of the company. In the meantime, DeepRoute.ai will continue to establish and maintain partnerships with major automakers to offer safe and new riding experiences for the public. Currently operating in Wuhan and Shenzhen with over 1.2 million miles driven safely on public roads. DeepRoute.ai’s China headquarters are located in Shenzhen, with U.S. headquarters in Fremont, California.
Source: https://www.therobotreport.com/deeproute-ai-closes-300-million-series-b-funding-round/