HoloMatic, a Chinese autopilot startup, announced today that it has raised $100 million in a Series C3 round of funding.
The round was led by Tencent Holdings and joined by GGV Capital, Sequoia Capital China, and Matrix Partners China.
HoloMatic is developing a comprehensive autopilot solution for commercial vehicles. The company’s technology is based on a combination of cameras, lidar, and radar sensors. HoloMatic’s autopilot solution is designed to be used in a variety of commercial vehicles, including trucks, buses, and delivery vehicles.
Image credit: Holomatic
The company’s Series C3 round of funding brings HoloMatic’s total funding to $220 million. HoloMatic plans to use the new funding to expand its research and development efforts, as well as to accelerate the commercialization of its autopilot solution.
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“We are excited to partner with Tencent and other leading investors to accelerate the development and commercialization of our autopilot solution,” said Xudong Cao, CEO of HoloMatic. “We believe that our technology has the potential to revolutionize the commercial vehicle industry.”
“We are impressed by HoloMatic’s team and their technology,” said a representative from Tencent Holdings. “We believe that HoloMatic is well-positioned to become a leading player in the autopilot market for commercial vehicles.”
The investment in HoloMatic is a sign of the growing interest in autonomous vehicle technology from investors in China. China is one of the world’s leading markets for commercial vehicles, and there is a growing demand for autopilot technology in the country.
HoloMatic’s Series C3 round of funding is a significant development for the company. The new funding will help HoloMatic to accelerate its development and commercialization efforts, and it will also help the company to expand its team. HoloMatic is well-positioned to become a leading player in the autopilot market for commercial vehicles.
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