DeepRoute.ai raised $300 million from investors, including Alibaba, to extend its test fleet and develop technologies like self-driving trucks. Other investors also participated in the funding round like Jeneration Capital, Geely and some previous investors, the company told in a statement.
The investment appears as automakers and technology companies are plunging billions of dollars in autonomous driving, trying to take an early lead in the future of mobility. DeepRoute.ai is testing vehicles in Shenzhen and Wuhan and will use the funds to double the fleet of its test robo-taxis to 150 by the end of this year, Chief Executive Zhou Guang said.
Founded in 2019, DeepRoute.ai partnered with automaker Dongfeng Motor on self-driving technologies. It is also working with Geely’s ride-hailing unit Cao Cao. DeepRoute.ai will also make self-driving light-duty trucks for urban logistics services, Zhou added.