Zhijia Technology completed the C1 round of strategic financing

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Text | Angie Li

Editor | Su Jianxun

36氪 was informed that on August 8, the intelligent driving company Zhijia Technology MAXIEYE (hereinafter referred to as “Intelligent Driving Technology”) announced that it has won the C1 round of joint strategic investment from Weihao Chuangxin, Yunbai Capital and Aixin Yuanzhi. At the same time, several parties will cooperate with each other in strategic resources to jointly create value for intelligent vehicles and future travel.

It is reported that this round of funds will be mainly used for R&D investment in intelligent driving high-end technology and supply chain reserves for large-scale mass production of passenger cars above L2.

Previously, in November 2021, MAXIEYE, an intelligent driving technology, received 300 million yuan in Series B financing led by Desay SV. In May of the same year, Zhijia Technology also completed a 150 million A+ round of financing, led by Fosun Chuangfu, followed by Qingyan Capital, and old shareholders such as Zhangjiang Haocheng, Zhangjiang Science and Technology Investment, Luan Yuke, Shengyu Investment and other old shareholders increased their holdings .

Founded in 2016, Zhijia Technology mainly provides driver assistance (ADAS) and automatic driving (ADS) system products and solutions for the passenger car and commercial vehicle front-loading mass production market, covering L0-L4 technology and closed-loop services. The founder Zhou Shengyan was taught by Karl Iagnemma, an autonomous driving scientist at the Massachusetts Institute of Technology, and the co-founder’s backbone team came from car companies and international Tier 1.

At present, MAXIEYE, a smart driving technology, has achieved large-scale business in the fields of passenger cars and commercial vehicles. In the field of passenger cars, the company focuses on two product lines of cost-effective L2 and high-end intelligence, and has released MAXIPILOT®1.0 & PLUS full-line product solutions, with full-speed intelligent cruise and NOM pilot assistance options.

  • Version 1.0 can meet basic L2-level assisted driving functions and support 1V, 1R1V, nR1V and other sensor configuration schemes;
  • The PLUS version is L2++ level pilot assisted driving (NOM), supports point-to-point automatic driving on highways and urban expressways, and is equipped with 5R1V (5 millimeter-wave radars + 1 camera) and a cost-effective computing platform;
  • Version 2.0 integrates pilot assisted driving with automatic parking and autonomy, and can meet the L2++ level assisted driving functions.

It is understood that in 2021, Zhijia Technology has achieved mass production of L2-level driver assistance systems on 2 self-owned brand models. In 2022, it is expected to achieve mass production of L2+ driver assistance systems for more passenger car brands.

In addition to continuing to promote the scale of L2, it will also build a next-generation high-end intelligent driving technology platform driven by data and BEV (Bird’s Eye View, bird’s eye view). Based on high-level intelligent driving technology and centrally integrated software and hardware architecture, the next-generation core technologies and solutions with more complex applications, greater computing power, and more complex scenarios are laid out.

In the field of commercial vehicles, Smart Driving Technology has also transitioned from regulations-driven safety products to market-driven smart solutions, with a cumulative shipment of hundreds of thousands of sets and a customer brand share of over 80%. During the year, MAXIEYE will also work with heavy-duty truck companies and logistics solution providers to deploy heavy-duty truck autonomous driving in scenarios such as trunk logistics to realize L0-L4 technology and service closed-loop.

In response to this round of financing, Liang Long, managing director of Weihao Chuangxin, said that under the wave of automotive intelligence, visual CIS, millimeter-wave chips, and automotive computing power chips are all developing rapidly. An important force in the integration of software and hardware, Zhijia’s products have been highly recognized by the market and customers in passenger cars and commercial vehicles. The founder’s rich industry experience, the team’s efficient product implementation ability, and the widely used software algorithms and systems have enabled Zhijia to realize the rapid implementation of ADAS assisted driving and related systems.

Bao Yi, Chairman of Winberry Capital, said that as a core technology service provider for intelligent driving, Zhijia Technology has achieved a full-stack technology layout around intelligent driving perception, integration, and decision-making control, and completed a comprehensive strategic deployment from the commercial vehicle market to the passenger vehicle market. Yunbai Capital is optimistic about the leading intelligent driving algorithms and software capabilities of the intelligent driving team, the experience in engineering mass production, and the comprehensive advantages and potentials from advanced driving assistance to high-level autonomous driving solutions.

Qiu Xiaoxin, founder of Aixin Yuanzhi, said that the penetration rate of intelligent driving has increased rapidly, and there is a huge demand for in-vehicle perception and computing chips, which is also an important area that Aixin Yuanzhi is expanding. Zhijia Technology is a leading provider of intelligent driving system products and solutions in China. It has an excellent team and profound product engineering capabilities, and has a wealth of commercial vehicle/passenger vehicle mass production cases. In the future, the two parties will cooperate closely on the intelligent driving mass production project, based on Aixin Yuanzhi’s chip platform and tool chain, combined with the engineering capabilities and algorithm capabilities of Intelligent Driving Technology, to create more competitive intelligent driving products.

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