Haomo, a Beijing, China-based provider of a driver assistance system, raised over RMB 100M in Series B1 funding.
Chengdu Wufa Private Equity Fund Management made the investment.
The company intends to use the funds to enhance R&D to develop its systems.
Led by CEO Gu Weihao, Haomo provides HPilot, a driver assistance system that is equipped in more than 20 vehicle models, helping drivers cover a combined distance of over 120 million kilometers with functions such as automatic braking and lane-changing. In addition, a fleet of Haomo’s Level 4 autonomous vans have delivered nearly 300,000 grocery parcels for supermarkets in Beijing.
The company expects the penetration rate of ADAS on passenger vehicles to reach 70% in China by 2025.
FinSMEs
22/02/2024