China's autonomous driving company ZongmuTech joins hands with PhiGent Robotics

Beijing (Gasgoo)- China’s autonomous driving developer ZongmuTech has partnered with Beijing PhiGent Robotics Technology Co., Ltd. (PhiGent) on April 13th.

Photo credit: ZongmuTech

There are enormous challenges for cross-scenario autonomous driving development. From a mass-production standpoint, ZongmuTech plans to build low-speed driverless technology and auto parking assist technology based on millimeter-wave radars and both visual and ultrasonic sensors. 

The partners will leverage each’s advantages and resources in the field to co-develop production-ready solutions for ADAS and high-level autonomous driving. 

Earlier, at the end of March, ZongmuTech closed its Series E financing round, with over RMB1 billion ($157.07 million) raised. The company noted that the funds would help it accelerate its autonomous driving project development. Furthermore, the investments will also be put into building an industrial park in Dongyang city, Zhejiang province. Once finished, the park will offer a production capacity of 2 million autonomous driving systems yearly. 

On the other hand, as a young startup established in August 2021, PhiGent has received dozens of millions of dollars from credible organizations, including Atypical Ventures, 5Y Capital, GSR Ventures, and China’s leading AI chip developer, Horizon Robotics. 

During the few months of establishment, PhiGent’s high-level autonomous driving solution building around 3D understanding has attracted close attention and cooperation intention from multiple major automakers and Tier1 suppliers. PhiGent has also achieved prominent development in technology and commercialization by working on multiple collaborative projects on intelligent driving and visual radar POC.