China’s NOVAUTO so far raises over 200 million yuan in Series A financing round

Beijing (Gasgoo)- China’s intelligent driving computing solution provider, NOVAUTO, announced the completion of the second settlement of its A2 financing round worth roughly 100 million yuan ($14.5 million). 

Photo credit: NOVAUTO

Investors of the round include Guangfa Qianhe Investment, Seas Capital, Tsinghua University-backed SEE Fund, and others. NOVAUTO disclosed that the proceeds will be put towards the R&D of new-generation intelligent driving computing architecture and perception scheme, mass production, and talent reserve. 

NOVAUTO’s A2 financing round was originally announced in March this year by the startup. Added the second settlement this time, the company has raised over 200 million yuan ($28.1 million) in its Series A financing rounds. 

NOVAUTO is jointly established by Tsinghua University’s School of Vehicle and Mobility and Department of Electronic Engineering in April 2019. Core members of the company graduated from Tsinghua University, Peking University, Imperial College London, RWTH Aachen University, etc., with an average work experience of over a decade from Huawei, Baidu, Momenta, AMD, Cambricon, and Jingwei Hirain. 

The startup holds leading computing architecture design and algorithm optimization abilities. NOVAUTO primarily provides software/hardware integrated intelligent driving high energy efficiency computing solutions including AI computing architectures, deployment software optimization, three-dimensional perception of multi-source fusion scheme, to automakers, Tier1 suppliers, and autonomous driving solution providers.