Image Source: Visual China

BEIJING, April 12 (TMTPOST) — Chinese autonomous driving startup Haomo.AI announced on Tuesday that it completed a million-dollar Series A+ round financing.

The financing round was led by Bank of China Group Investment and backed by Shougang Concord International.

It is said that the fund raised will be invested in research and development of autonomous driving products and talent acquisition.

“Haomo.AI has entered a new phase after the financing round. Our partners and the injected capital will help Haomo.AI maintain its edge in the mass production of autonomous driving and artificial intelligence,” the company’s board chair Zhang Kai said.

The company is planning to launch the urban road version of its in-house L2 autonomous driving system named Navigation on HPilot (NOH) by mid-2022. In the second half of 2022, an all-scenario version of the NOH system is scheduled to launch. The company plans to roll out its Haomo Self Driving (HSD) fleet in 2023.

“Autonomous driving is a revolutionary innovation. We believe that autonomous driving has good prospect and got involved in Haomo.AI’s series A+ round financing,” Liu Jian, board chair of the Bank of China Group Investment said.

“We believe that Haomo.AI will realize a healthy circle of data, technology and products through mass production, shipment and the establishment of data intelligence system MANA. We also think highly of the company’s strategy, management and research and development capabilities,” Liu said.