Pan-port autonomous driving developer FABU Technology closes B2 financing round

Beijing (Gasgoo)- China’s pan-port autonomous driving solution supplier FABU Technology announced on December 19 the completion of its B2 financing round, which raised for the company over a hundred million yuan.

Photo credit: FABU Technology

According to FABU Technology, the fresh round was participated by Anhui Railway Development Investment Fund and Zhejiang University Education Foundation. The company said that the proceeds from the B2 round will be put towards the technology R&D of its autonomous driving products, and help accelerate the intelligent upgrading of traditional industries such as ports. 

FABU Technology was established in August, 2017, focusing on the proprietary technology of self-driving transportation solutions under port-side scenarios. The company’s full-fledged products cover L4 intelligent driving system for port-side ship operations without safety drivers, remote control system for port unmanned operations, and fleet and port machinery equipment scheduling management system that improves efficiency. Its solutions have been validated via long-term stable commercial operations.

As early as in 2020, FABU Technology has kicked off scale marshalling operation with a 13-vehicle autonomous driving container truck fleet in Meishan Port. In October 2021, the company deployed an autonomous container truck fleet for real-ship operations in Nantong Port.

At the beginning of 2022, FABU Technology has started unmanned operations in Meishan Port without safety operators onboard. So far, the company’s self-driving container truck fleet has expanded to over 60 vehicles, accounting for 20% of the total container truck volume at Meishan Port.