China’s intelligent driving solution provider Eco-ev closes Series A funding

Shanghai (Gasgoo)- Suzhou Youkong Zhixing Technology Co., Ltd. (called “Eco-ev” for short, “Youkong Zhixing” is Chinese Pinyin), a Chinese provider of full-stack intelligent driving solutions, announced on May 8 via its WeChat account it has completed the Series A financing with tens of millions of yuan raised.

Proceeds from the fresh round will be used to develop new intelligent-driving domain controller products, upgrade intelligent driving systems, as well as build a team dedicated to R&D of intelligent driving technologies, so as to comprehensively enhance the company’s market and product competiveness.

Eco-ev's subsidiaries in Tianjin, Shijiazhuang, and Suzhou; photo credit: Eco-ev

Founded in 2015, Eco-ev has been focusing on the development of automotive electronic control devices since its inception. Currently, the company has established three R&D centers (in Suzhou, Tianjin, and Shijiazhuang cities) and one production base (in Tianjin city), primarily engaged in such businesses as intelligent driving system solutions, domain control units for intelligent driving, complete vehicle controllers and cross-domain fusion controllers for new energy vehicles, as well as supporting technical services for automotive electronic control systems.

By the end of 2022, the company had accumulated a shipment volume of over 250,000 sets.

Eco-ev is a partner of NVIDIA NPN partner, a preferred design company for Infineon’s automotive applications, and a strategic partner of NXP. Moreover, EcoCoder, an automatic code generation tool fully in-house developed by Eco-ev, has been officially recommended by the U.S.-based MathWorks.

Liao Ming, founder and CEO of Eco-ev, said the funds raised in the recent round will be mainly poured in the R&D and market deployment of intelligent driving products over the next few years, to increase the market share of the existing limited-scenario L4 autonomous driving system solutions, expand the application of intelligent driving technologies on open roads and highways based on the experience it has accumulated in unmanned driving technology in industrial parks and other specific scenarios, and accelerate the engineering of L2+ intelligent driving technologies and products.