Autonomous Driving Startup Deeproute.ai Secures $100 Million Funding
In a significant development, Chinese startup Deeproute.ai has announced a $100 million funding round from an undisclosed automaker, highlighting its close ties with chipmaker Nvidia. According to Pitchbook data, Great Wall Motor led the investment.
Challenging Times for Autonomous Driving Startups
Deeproute.ai’s CEO, Maxwell Zhou, acknowledged that securing financing, especially from non-government sources, has been a challenge. However, the startup’s partnership with Nvidia has been instrumental in driving its growth.
Deep Cooperation with Nvidia
Zhou emphasized that Deeproute.ai is in “deep cooperation” with Nvidia, citing “in-depth discussions” with the chipmaker’s CEO, Jensen Huang. The startup uses Nvidia’s Orin chip for its current driver-assist system and is part of the first batch of companies in China to obtain Nvidia’s newer Thor chip for cars.
Advancements in Autonomous Driving Technology
Deeproute.ai’s system, which can use more visual cues to manage complex driving scenarios, is expected to be released next year. The startup’s focus on artificial intelligence has enabled it to develop autonomous driving solutions without relying on high-definition maps. This approach has also been adopted by companies like Xpeng, Huawei, and Tesla.
Growing Demand for Autonomous Driving Solutions
With at least three car models using Deeproute.ai’s driver-assist system expected to hit the road this year, the startup’s technology is gaining traction. Currently, its systems are running in over 20,000 cars on the road, a number expected to increase significantly next year.
Expansion Plans and IPO Ambitions
Deeproute.ai is looking to collaborate with foreign automakers and plans to participate in Japan’s auto show next year. When asked about IPO plans, Zhou stated that the startup would focus on its development pace but welcomed the recent public offerings of other industry players.
Autonomous Driving Landscape in China
The Chinese autos industry is increasingly looking at driver-assist tech as a way to stay competitive. Recent developments, such as Pony.ai’s agreement with Beijing Automotive Group and Tencent’s cooperation with Bosch, demonstrate the growing importance of autonomous driving solutions in the market.
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