GAC Group invests in Holomatic’s C1 round, with cooperated vehicles coming in 2022

Beijing (Gasgoo)- GAC Group signed a deep cooperation agreement with China's autonomous driving solution startup, Holomatic, and invested in the startup's C1-round of financing.

GAC Group, Holomatic signing ceremony; photo credit: GAC Group

GAC Group added that the investment would be made entirely through GAC Capital, and the automaker planned on further investing in Holomatic in the future. This round's fundings will help tighten the strategic relationship between the two partners and help GAC Group take up more resources in the intelligent connected mass-produced technologies field. 

Founded in 2017, as a leading developer who focuses on mass-produced autonomous driving solutions, Holomatic has been a favorite in venture capital's eyes. In 2020, the company received an A+ round of financing for autonomous driving engineering and technology development. In 2021, Holomatic has successively finished another two rounds of investments.

Holomatic has become an integral member of GAC Group's ecosystem. Holomatic is one of the few companies capable of full-stack autonomous driving technologies, including wire control, multi-sensor fusion, and core algorithm designs. The company utilizes driving and parking scenarios as the starting point for mass production and offers all-scenario autonomous driving solutions. 

Photo credit: Holomatic

In fact, Holomatic has been a partner to GAC Group for quite some time. Building on the XJ3 and X3V programs, the two companies have co-developed L2++ automated parking and memory parking functions and achieved periodical results. According to the partners, they are currently exploring L3 and up autonomous driving technologies.

Moreover, Holomatic has started to provide autonomous driving technology for GAC Group's vehicle platforms and will continue as the main supplier for the said solutions on GAC Group's wholly-owned brands.

In addition, multiple Holomatic's technology powered GAC vehicles will be on the market starting 2022.