China’s self-driving startup IdriverPlus secures over 100 million yuan from C+ financing

Shanghai (Gasgoo)- Beijing Idriverplus Technology Co.,Ltd. (called “IdriverPlus” for short), a Chinese autonomous driving solution and product provider, announced on September 14 it has closed a C+ financing round with hundreds of millions of yuan raised in total.

The latest fundraising round involves such investors as Xinding Capital and Yuzhou Huaxia Weiming Health Industry Fund (L.P.), said IdriverPlus.

Proceeds from the financing will be deployed to strengthen the company's technologies for autonomous driving products, speed up the establishment of the fleet consisting of level 4 autonomous passenger vehicles, roll out the projects for Robotaxi commercial applications under diversified scenarios, and quicken the introduction of self-driving technologies into mass-produced special vehicles.

(WOXIAOBAI autonmous driving sweeper, photo source: IdriverPlus)

Additionally, the money raised will be used to recruit top talents from autonomous driving domain and expand overseas market as well, according to IdriverPlus.

IdriverPlus, founded in 2015, is one of the first enterprises in China to mass produce and commercialize the autonomous driving vehicles. Currently, its solutions and products are mainly deployed in the fields like parcel delivery and street cleaning. For logistics business, the startup has launched the self-driving vehicle “WOBIDA”, which has developed into the volume production phase and been deployed in parks and geofenced industrial parks.

In sanitation area, the autonomous driving sweeper “WOXIAOBAI S100N” rolled off the production line in August 2018. Integrated with LiDAR, cameras, ultrasonic sensor, and other sensors, WOXIAOBAI has realized the goal of freeing itself from manual operation and undertaking cleaning, watering, and garbage collection on road surfaces automatically.

Earlier this month, IdriverPlus launched at the China International Fair For Trade In Services 2020 a floor scrubber dubbed “WOXIAOBAI AS80” that is able to clean the floor of shopping malls, warehouses, hospitals and airports at a speed of 4,000 square meters per hour.