(MENAFN- Newsfile Corp) HoloMatic Raised $100 Million New Funding, Led by GAC Group
Beijing, China--(Newsfile Corp. - November 24, 2022) - In November 2022, HoloMatic, a full-stack autonomous driving technology company, announced that the C2 round of financing had recently completed. This round of financing is led by GAC Group, one of the largest China local OEM, with ZhiDu Investment and CHAOS Investment. The funds raised will continue to be used in high-level self-driving technology innovation R&D, large-scale mass production and other fields. So far, HoloMatic has raised $100 million in Series C funding.
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As a well-known autonomous driving solution supplier, HoloMatic was founded in 2017 and has established a complete layout not only from Artificial Intelligence Algorithms to Embedded Systems, but also from Closed-loop Big Data to System Iteration Evolution, with the full-stack R&D capability on autonomous driving.
GAC Group, which is one of the largest China local automobile groups, with the average annual sales volume exceeding 2 million units in recent years, has two independent brands, GAC Trumpchi and GAC AION. Among them, GAC AION is a blade electric vehicle brand launched by GAC Group in response to the heat wave of smart vehicles. As of October, GAC AION's cumulative sales volume in 2022 had exceeded 210,000 units, with an average monthly sales volume of more than 30,000 units, ranking among the top 3 electric vehicle brands in China.
In November last year, HoloMatic reached a deep cooperation with GAC Group and received exclusive financing of Series C1 funding from GAC Capital. The two sides are integrating advantageous resources and cooperating to implement the industrialization of smart vehicles. According to the plan, the autonomous driving plan of HoloMatic will be gradually installed in the mass production on various models of GAC Trumpchi and GAC AION from 2022.
After receiving this series of financing, in addition to the deep cooperation with GAC Group, HoloMatic will also provide many leading vehicle enterprises with platform self-driving development services on autonomous driving. The autonomous driving domain controller independently developed by HoloMatic, also designated by many leading independent brand vehicle companies in 2022, which will be mass-produced and launch in 2023.
With the varied changes of the world economy in recent years and the large-scale popularization of smart vehicles, the development of the autonomous driving innovation lane has become more pragmatic and more focused on the implementation of technical mass production. Benefiting by the leading artificial intelligence innovation capability and steady engineering mass production capacity accumulated in the development of past five years, HoloMatic continues to be concerned and recommended by automobile manufacturers and investment institutions under the industry downturn. The completion of this series of financing can be seen as an achievement against the trend in such a challenging industry situation.
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In this regard, Feng Yuan, the general manager of GAC Capital, said: 'With excellent technological innovation and solid engineering mass production capacity, HoloMatic and GAC Group are integrating advantageous resources and trying every effort to implement the industrialization of smart vehicles, continuously reducing the mass production cost, and accelerating the technological iteration. Through this series of financing, our cooperation will be further deepened, which also represents our continued high confidence in the development of HoloMatic. GAC Capital will continue integrating resources with HoloMatic in the future to provide more comprehensive industrial empowerment, help to grow rapidly, supply the needs for industrial upgrading and transformation, and continue to promote the high-quality development of automobile industry in China.'
'The completion of this series C funding is another development milestone ushered in by HoloMatic, which has just celebrated its fifth anniversary,' Kai Ni, founder and CEO of HoloMatic, said. 'In such a challenging market situation like now, this series of financing will guarantee the healthy development of HoloMatic. It is a great honor to win the support and recognition of well-known strategic and financial investors such as GAC Capital, ZhiDu Investment and CHAOS Investment, which also represents our common belief in promoting the popularization of autonomous driving mass production and gradually achieving the goal of self piloting. HoloMatic will continue to exert the advantages of artificial intelligence technology and the experience of excellent engineering mass production accumulated over the years, to provide customers with advanced and efficient autonomous driving R&D services, to improve their innovation capability for creating greater industrial value. Besides, HoloMatic will provide consumers with reassuring, comfortable and efficient autonomous driving experience, and accelerate the early achievement of the self piloting era.'
Company: HoloMatic Technology (Beijing) Co., Ltd.
Contact Person: Li Xingzhi
Telephone: +86 18600581109
City: Beijing, China
Address: Lowa Building Block D, Lizhezhonger Road, Chaoyang District
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