Xiaomi invests in China’s autonomous driving chip startup RHINO Tech

Beijing (Gasgoo)- Chinese autonomous driving computing platform developer RHINO Tech on February 6 announced the recent completion of its Angel+ financing round, which was jointly led by Xiaomi Group and Xiaomi-associated Shunwei Capital.

Photo credit: RHINO Tech

Other investors of the round include CICV Investment, Cathay Capital, Sense Capital, MiraclePlus, GSR Ventures, Grit Ventures, Tsari Capital, and Z&Y Capital. 

According to RHINO Tech, it bagged several hundreds of millions of yuan in the Angel+ round. 

Notably, well-known investors such as YuanBio Venture Capital, NIO Capital, Zhen Fund, SEE Fund, and Sky9 Capital were all participants in RHINO Tech’s Angel round. 

Founded in April 2022, RHINO is committed to building innovative onboard intelligent computing platforms, providing high-level intelligent driving chips, easy-to-use open tool chains, and full-stack autonomous driving solutions to help automakers build low-cost, large-scale, and automated iterative capabilities, achieving high-quality and efficient mass production and delivery of autonomous driving products.

Proceeds from this round will be used for product development, mass production, and market expansion, said RHINO Tech.

Currently, RHINO Tech has built a full-fledged R&D team of more than 200 people, with R&D centers in Beijing, Shanghai, Hefei, and Hangzhou. The core technical staff has an average of over a decade worth of practical experience in autonomous driving chip design, algorithm and tool chain development, automotive system, and product delivery, etc.

The startup's first SoC for next-generation urban NOA solutions is scheduled for mass production in 2024.