GAC Capital leads C2 financing round of autonomous driving startup Holomatic

Beijing (Gasgoo)- China’s autonomous driving solution developer Holomatic announced this week the completion of its C2 financing round, which was led by GAC Capital. 

Photo credit: Holomatic

According to Holomatic, the proceeds from the C2 round will be put towards technology innovation and R&D of high-level autonomous driving, as well as large-scale production. Prior to the fresh financing round, Holomatic closed its C1 round in November 2021 with GAC Capital being the investor as well. Upon completion of the C2 round, Holomatic has so far raised roughly $100 million in its Series-C financing. 

Founded in 2017, Holomatic is a dedicated provider of mass-produced autonomous driving solutions in China, focusing on utilizing cutting-edge artificial intelligence technology and automotive engineering technology. The company aims to promote the large-scale production of autonomous driving solutions driven by local data in China. Currently, the company holds full-fledged autonomous driving R&D capability, and formed a comprehensive layout from artificial intelligence algorithm to embedded systems, from big data closed-loop to system iterations. 

Holomatic has become an integral member of GAC Group's ecosystem. Multiple GAC Group’s passenger vehicle models equipped with Holomatic’s autonomous driving system will successively hit the market starting this year. Meanwhile, Holomatic’s self-developed autonomous driving domain controller, which was scheduled for mass production in 2023, has acquired several procurement orders from major Chinese automaker so far.