Chinese unmanned mining solution developer TAGE IDRIVER completes C1 financing round

Beijing (Gasgoo)- China’s mine-field autonomous driving solution developer TAGE IDRIVER announced on November 14 that it has successfully raised over 100 million yuan in its C1 financing round.

Photo credit: TAGE IDRIVER

The fresh round was led by Jinsha Capital and participated by Boton Technology. Notably, Boton Technology is one of TAGE IDRIVER’s long-term partners who has invested in the company for two other times. 

Before the C1 round, TAGE IDRIVER also received a strategic investment from Shangshi Fund, whose limited partners are Yitai Group, China's largest private coal company, and Sunwoda, China’s major battery supplier. 

Founded in 2016, TAGE IDRIVER is the first unmanned driving enterprise focusing on mining scenarios in China. The company’s innovative “vehicle-ground-cloud” architecture provides the industry a fundamental structure for mine-field self-driving transportation system. 

In March 2022, the company successfully conducted round-the-clock L4 marshalling operation without safety drivers under production status. The operation marked the industry’s first unmanned mining truck and unmanned wide-body vehicle normalized operation without safety drivers. 

In 2021, TAGE IDRIVER saw its annual revenue soar nearly 400% year on year. The company predicted that its revenue in 2022 should realize a growth of 200%-400% compared to a year ago. Currently, the company operates an intelligent driving vehicle fleet of more than 300 vehicles, and accumulated a in-hand order value of 1 billion yuan.