Beijing Yizhuang-backed AICC completes Pre-A investment round

Beijing (Gasgoo)- China’s automotive intelligence developer, AICC, landed hundreds of millions of RMB in the company’s Pre-A round of financing for product R&D and collaborative mass production with automakers.

Photo credit: SenseTime

The record showed the Pre-A round investment was led by Avic Capital and China Intelligent and Connected Vehicles (Beijing) Research Institute (CICV). Earlier in June, the company completed an angel round of financing that amounted to almost a hundred million RMB.

AICC was founded in July 2020, headquartered in Yizhuang District, Beijing, with global development centers in Shanghai and Santa Clara, focusing on the intelligent connected vehicle (ICV) algorithm platform exploration, product development and industrialization, and ecosystem cultivation. The tech company was invested by CICV and Yizhuang’s Beijing E-Town Capital.

Notably, CICV is a research institute established by 21 major players in China’s auto industry, including FAW Group, Dongfeng Motor, Changan Auto, GAC Group, and BAIC Group, to promote crossover cooperation between local automakers and ICT companies.

Moreover, AICC positioned itself as a “Tier 1.5” company in the industrial chain. It can develop intelligent driving applications and functional vehicle software definitions for automakers while offering application developers ICT digital bases and application domains.

AICC has reached mass production agreements with several other automakers, including BYD, with an estimated application date in August 2023. Automakers like Great Wall Motor, GAC Group, Changan Auto, Dongfeng Motor, BAIC Group, Geely, and FAW Hongqi are all clients to the company. In addition, the company is also in partnership with various technology developers such as CICV, Horizon Robotics, and BDStar.