Autonomous driving startup QCraft closes Series B1 financing

Beijing (Gasgoo)- Autonomous driving solution supplier QCraft announced on December 2 the completion of its Series B1 financing, which raised hundreds of millions of yuan.

Photo credit: QCraft

Investors of the fresh round include a fund under China Capital Investment Group, TCL, as well as an unnamed major chip developer. QCraft’s existing shareholder, Yuanbio Venture Capital, also joined the round.

According to QCraft, proceeds from this round will help the company fully integrate the resources scattered across the upstream and downstream of the autonomous driving industry chain, in the advanced precision manufacturing field, and other aspects. The company will utilize the funds to deepen its strategic layout, improve the industrial ecosystem deployment, accelerate the mass production of advanced assisted driving products, and facilitate the large-scale application of Robobus.

Founded in 2019, QCraft holds a highly efficient technology-oriented team dedicated to autonomous driving. The company has successfully created a full-fledged core technology system and a two-pronged development strategy. To be specific, QCraft uses its L4 autonomous driving capabilities on open roads as the means to enhance the depth of its technology, while expanding its real-life commercial applications with mass-produced advanced assistant driving products. 

In terms of practice of the strategy, QCraft has deployed autonomous driving bus (Robobus) fleets for test and operations in ten cities, including Suzhou, Shenzhen, Wuhan, Beijing, Wuxi, and Jiaxing. Meanwhile, the company is also working with automakers and suppliers to provide universal intelligent driving solutions for general consumers.