China’s autonomous driving startup SPACE bags hundred million RMB in A round

Beijing (Gasgoo)- China’s autonomous driving solution provider SPACE, has completed its Series-A round of financing, raising over a hundred million RMB.

Photo credit: SPACE

According to SPACE, the lead investor of this round is Oriza Holdings.

SPACE disclosed that the funds would be used to promote the mass production of AVP projects and develop new business and product lines, such as branching out the AVP technologies onto pan-robotics scenarios and developing a “drive/park” integrated autonomous driving solution.

Founded in 2019, SPACE strives to develop core software and solutions for autonomous driving. The founding team possesses 20 years of R&D experience in the automobile industry and has realized mass production for hundreds of projects. Its autonomous driving software achieves fast and optimal deployment, furthering its products' scale application on passenger vehicles.

As of now, SPACE has landed over ten mass-production programs, successfully covering all major mass-produced chip platforms, including TI, NVIDIA, Qualcomm, Renesas, HUAWEI MDC, and Horizon Robotics.

Earlier in December, SPACE managed to secure a mass-production order for over 400,000 units from a major Chinese automaker, becoming the largest AVP mass-production project in the country.

The company set a target to consolidate and expand its leading position in the AVP market and replicate its mature technologies onto pan-robotics scenarios starting 2022. Moreover, SPACE aims to realize all-scenario autonomous driving by 2030.