AutoX raises $100m from Dongfeng Motor and Alibaba
September 17, 2019 (San Jose, California) ─ Auto X, a leading self-driving start-up announced that it had closed a $100m Series A funding round. The funding round is reported to be one of the largest fundraisers for autonomous driving in China so far this year. Investment was led by Dongfeng Motor Corporation, the Chinese state-owned automaker, with participation from Alibaba and Silicon Valley’s Plug and Play China fund. There was also participation from the Hong Kong Science and Technology Parks Corporation, a public company set up by the Hong Kong government in 2001.
AutoX is a leading tech company that develops AI drivers for autonomous driving vehicles, with the mission of ‘Democratizing Autonomy’ to provide universal access to transportation of people and goods. It was founded in 2016 by Dr. Jianxiong Xiao (a.k.a. Professor X), a self-driving technologist from MIT and Princeton University. The company’s self-driving platform is capable of handling the densest and most dynamic traffic conditions in urban cities around the world. AutoX is the second permit holder for California DMV’s completely driverless RoboTaxi permit. In China, AutoX has deployed more than 100 RoboTaxis in Shanghai, Shenzhen, Wuhan, and many other cities. Headquartered in Shenzhen, AutoX has eight offices and five R&D centers globally. Our investors include Shanghai Auto (China's largest car manufacturer), Dongfeng Motor (China's second-largest car manufacturer), Alibaba AEF, MediaTek MTK, and top financial institutions.
About China eCapital Partners, LLC
China eCapital Partners, LLC (CEC Capital) is the US affiliate of CEC Capital Group and has offices in Los Angeles and San Francisco. CEC Capital provides M&A and private placement advisory services to clients in the TMT, consumer and healthcare sectors. As the US affiliate of CEC Capital Group, CEC Capital facilitates cross-border transactions involving the Asia-Pacific markets, including Greater China, Japan, South Korea, and Southeast Asia.
For more information, please visit www.ceccapitalus.com.
About CEC Capital Group
Founded in 2000, CEC Capital Group (formerly known as China eCapital Corporation) is a leading private investment bank in China with a core focus on the TMT, consumer and healthcare sectors. Headquartered in Beijing with offices in Shanghai, the Company provides M&A, private placement, and asset management services to its clients both in and outside of China. To ensure that clients receive the most comprehensive buy-side coverage, its ECM team has established close contact with over 3,000 institutional investors in China, ranging from large conglomerates and A-share listed companies to established financial institutions, and asset management firms.
For more information, please visit www.ceccapitalgroup.com.