DeepRoute.ai, a Shenzhen, China- and Fremont, Calif.-based international self-driving technology company committed to advancing urban logistics and robotaxis, closed a Series B funding round with the investment totaling to more than $300m USD.
The round, whose amount was not disclosed, was led by Alibaba Group (NYSE: BABA), and other venture capital companies including Jeneration Capital. Previous investors Fosun RZ Capital, Yunqi Partners, and Glory Ventures also participated in the round.
The company intends to use the funds to further research and development, scale automaker collaboration and fleet operation, and support the expansion of the team.
Led by Maxwell Zhou, CEO, DeepRoute.ai is an international self-driving technology company committed to advancing urban logistics and robotaxis. The company’s long-term strategy includes developing medium duty trucks for urban logistics, improving transit for shipments and freight delivery. In addition to expanding the types of vehicles deployed, DeepRoute.ai aims to grow its robotaxi fleet to more than 150 by the end of 2021. Currently operating in Wuhan and Shenzhen with over 1.2 million miles driven safely on public roads, DeepRoute.ai also received a Passenger Carry Permit from the California Public Utilities Commission (CPUC) in June.