Haomo will use the funds raised from investors to build its talent pool and enhance its R&D capability, the company said in a statement on Wednesday.
Haomo.AI, a Chinese autonomous driving startup controlled by Great Wall Motor’s Chairman Wei Jianjun, has raised nearly 1 billion yuan ($157 million) in a funding round as investors increase bets on smart car technologies.
Haomo will use the funds raised from investors – such as Hillhouse Capital’s early-stage investment unit GL Ventures, Meituan, Qualcomm Ventures and others – to build its talent pool and enhance its R&D capability, the company said in a statement on Wednesday.
General Motors Co announced in September that it would invest $300 million in Chinese autonomous driving startup Momenta to develop self-driving technologies for future models in China, its first such tie-up in the world’s No.1 car market.
Read more/Source: Car and Bike
