China’s intelligent driving tech startup LinearX closes Pre-A round

Beijing (Gasgoo)- Shanghai-based intelligent driving software platform developer LinearX recently celebrated the completion of its Pre-A financing round on its one-year anniversary.

Photo credit: LinearX

The company has raised over a hundred million yuan in the round. Leading investors of the round were Broad Vision Funds and Shenzhen Capital Group, and LinearX’s three existing shareholders all took part in the round as well. The proceeds raised in the Pre-A round will be used for talent recruitment, technology development, product optimization, and market expansion.

In August 2022, China’s tech giant Tencent increased its stake in LinearX to become the latter's the third largest shareholder. As the previous sixth largest shareholder of LinearX, Tencent used to hold 4.73% stake in the startup with RMB28,400 invested. After LinearX’s Pre-A financing round, Guangxi Tencent Venture Capital Co., Ltd. saw its investment in the startup’s registered capital rise to RMB65,900, which corresponds to 8.75% stake in the startup.

Since its establishment in August 2021, the technology concept of LinearX has been recognized by many legacy automakers as well as auto startups. Currently, the company is actively cooperating with Tier1 suppliers, chip manufacturers, and algorithm companies on product development and project implementation on various levels.