Shenzhen-based autonomous driving startup DeepRoute.ai raises $100 million from Chinese automakers, plans to launch more than 10 models in 2025
On November 4, 2024, Chinese autonomous driving technology development company
DeepRoute.ai Announces Major Series C1 Funding; Strategic Investment from Prestigious Chinese Automotive OEM - DeepRoute
https://www.deeproute.ai/en/news/368.html
China's DeepRoute.ai raises $100 mln as smart driving adoption speeds up | Reuters
Self-driving startup DeepRoute.ai raises $100M to fuel mass adoption of autonomous driving and take on Tesla in China - Tech Startups
https://techstartups.com/2024/11/04/self-driving-startup-deeproute-ai-secures-100m-to-fuel-mass-adoption-of-autonomous-driving-and-outpace-tesla-in-china/
DeepRoute.ai, based in Shenzhen, China, has been involved in developing smart driving solutions, including the cutting-edge end-to-end model ' DeepRoute IO ,' which enables navigation in urban areas and on highways without using high-definition maps.
On November 4, 2024, DeepRoute.ai announced that it had conducted a strategic funding round and raised $100 million from an anonymous Chinese automobile OEM. DeepRoute.ai claims that this will help DeepRoute IO strengthen its research and development, expand partnerships with automobile manufacturers, and enter the robot taxi business in the future, as well as support the recruitment of talented AI-savvy personnel.
DeepRoute.ai has announced plans to deploy its advanced driver assistance system throughout China, revealing that it plans to deploy approximately 200,000 vehicles by the end of 2025. The system will be equipped with urban traffic navigation functions similar to the full self-driving (FSD) system that automaker Tesla plans to sell in China in the future.
DeepRoute.ai's Maxwell Zhou said, 'Tesla is certainly a pioneer in introducing advanced learning technology to autonomous driving, but it needs to adapt to the Chinese market. China has more complex traffic conditions than the United States, including pedestrians walking on the highway and hundreds of scooters rushing to deliver goods.' He argues that by using DeepRoute.ai's automated system that meets the needs of China, drivers can be properly navigated on the roads.
DeepRoute.ai has announced that it will launch more than 10 models with automaker clients in 2025. In August 2024, DeepRoute.ai also launched two models with joint investment from
The expanded partnership through this investment will enable revenue generation through technology licensing fees per vehicle, as well as the collection of data for artificial intelligence to handle more complex traffic situations. 'Such data collection will help us rapidly evolve our technology to address China's unique road scenarios,' Zhou emphasized.
'This strategic investment from an automaker represents a great recognition of our technological maturity and mass production capability. We look forward to leveraging this momentum to further expand our presence in global markets. Autonomous driving is the most promising way to realize physical AI, and we are confident that we will be a major player in the future AI era. We look forward to working with more partners on this journey,' said Zhou.
DeepRoute.ai did not disclose the names of the companies that provided funding or the valuation amount after funding.
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