China’s PhiGent Robotics bags $30 million in Series A for AD advancement

Beijing (Gasgoo)- On May 18th, Beijing-based autonomous driving developer PhiGent Robotics announced the completion of its A financing round, raising $30 million in total.

Photo credit: PhiGent Robotics

The round was led by INCE Capital and followed by existing shareholders, including Atypical Ventures, 5Y Capital, and GSR Ventures. PhiGent Robotics’ strategic investor Horizon Robotics also rendered solid support regarding product commercialization. 

Notably, this marked the third financing round PhiGent Robotics completed during its half a year of establishment.

According to the young startup, the funds will be put toward elevating its core technology R&D, quality mass production, and expanding its commercial application. 

Founded in August 2021, PhiGent Robotics’ founding team consists of experienced talents in the AI algorithm, software, and chip fields, with 8 years of cooperation basis. Its core team of 130+ people came together from top-notch tech companies, automakers, and Tier1 suppliers worldwide.  

In the relatively short time of operation, PhiGent Robotics has launched a full-stack high-level autonomous driving solution based on the software2.0 architecture and visual 3D understanding. The production-ready solution is compatible with a wide range of functions from 5R13V sensor configurations to 1R1V configurations. 

Meanwhile, the company also introduced a binocular vision radar, the PhiGent Heimdallr. Through highly-efficient AI computing, the sensor is able to combine the Low Level Vision 3D basic descriptor with High Level Vision semantic information, grasping a more detailed and precise perception.