SenseTime-backed investment arm joins Autowise.ai's B3 strategic round

Beijing (Gasgoo)- China’s autonomous driving solution provider Autowise.ai recently announced that the venture capital firm of SenseTime and others have taken part in its B3 strategic financing round. 

V3; photo credit: Autowise.ai

The latest round marked Autowise.ai’s second financing round since July 2022. Founder and CEO of the startup, Huang Chao, said that the rising attention from venture capitals was a result of its fast-growing business and product iteration.

The proceeds raised in the B3 round will be mainly used in the R&D and manufacturing of autonomous vehicles and market expansion, especially in the overseas markets. 

Founded in August 2017, Autowise.ai established the earliest fleet of autonomous passenger vehicles in China in late 2017, and subsequently obtained road test licenses of autonomous driving trucks in Shanghai. The company was the first to realize commercialization of autonomous vehicles in the urban sanitation segment, and thus accumulated massive R&D experience and operational data. 

Autowise.ai currently operates autonomous driving street cleaning vehicles in over 20 countries and cities worldwide. The company is working on bringing out more products in the future. 

At the World Artificial Intelligence Conference in September this year, Autowise.ai released its new proprietary autonomous driving road sweeper, the V3, with strong technical strength and productization capability. The V3 has attracted multiple orders of intent since its debut.