China’s intelligent driving solution provider Freetech nabs roughly $100 mln in Series B round

Beijing (Gasgoo)- On November 28, China’s intelligent driving solution provider Freetech announced the completion of its Series B funding round, which raised for the company nearly $100 million.

Photo credit: Freetech

This round of financing was led by Chaos Investment, SAIC Motor-backed Hengxu Capital, BAIC Capital, TCL, Shaanxi Automobile, Sun Life Everbright, and others. 

The funds raised in this round will mainly be used to consolidate Freetech's leading position in the mass production of advanced intelligent driving technologies, strengthen the company's core technology and R&D of new-generation products, optimize the supply chain, and continuously promote the commercialization of autonomous driving.

Aside from the listed investors, Freetech also has acquired investments from Geely, Dongfeng Motor, and many other well-know organizations. 

For the next-generation intelligent driving technology from central computing platform to data center, Freetech independently developed the ODIN digital intelligent base solutions and product portfolio, domain control hardware, sensors, autonomous driving algorithm, and data closed-loop system composition. The company has built a full-stack, full-cycle sustainable platform through software/hardware synergy and integration technologies. Fritech. It fully meets the evolving requirements of L1-L4 autonomous driving functions of various automakers at the present stage and in the next few years.

At present, Freetech has cooperated with more than 40 auto brands on over 100 cooperative models. The company’s products have been deployed by mass-produced models for more than 1 million sets in 2022.