PhiGent Robotics closes Series A+ round, appoints former VP of AMD as new CEO

Beijing (Gasgoo)- Beijing-based autonomous driving solution developer PhiGent Robotics on December 1 announced the completion of its Series A+ financing round, raising tens of millions of US dollars for the company.

Photo credit: PhiGent Robotics

The latest round was led by Xianghe Capital and participated by the company’s existing shareholder, INCE Capital. 

Notably, PhiGent Robotics has completed five financing rounds since its establishment in August 2021. Up to now, the company has successfully attracted a cumulative investment volume of nearly $1 billion, from Atypical Ventures, INCE Capital, Horizon Robotics, and more. 

In the next stage, PhiGent Robotics plans to introduce industrial investors to its list of shareholders, accelerate the company's commercial deployment expansion, and further strengthen the establishment and cooperation of its industrial ecosystem.

Along with the announcement, the company also disclosed that Dr. Shan Yi, former global vice president of AMD, officially joined PhiGent Robotics as co-founder and CEO.

Upon officially joining the startup, Dr. Shan Yi will be responsible for the company's strategic planning, financing, commercialization, and other aspects of the company’s development and operation. At the same time, Dr. Du Dalong, the original founder of PhiGent Robotics, will take on the role of CTO, in charge of the company's market planning and layout, product R&D management, and emerging technological breakthroughs.