5Y News | 5Y Capital Portfolio Company PhiGent Robotics Closes $30 Million Pre-B Round
Using technological advancement to lead large-scale mass production of intelligent driving.
Recently, PhiGent Robotics, a next-generation autonomous driving systems provider centered on visual 3D perception, announced the completion of a $30 million Pre-B funding round. The round was co-led by Beijing E-Town Industrial Upgrading Fund and Beijing Intelligent Connected Vehicle Industry Fund, with continued follow-on investment from existing shareholders and additional strategic investment from Horizon Robotics.
The proceeds will be used to advance the scaled mass production of the company's high-level intelligent driving solutions and "all-in-one" binocular stereo vision products, as well as the productization of cutting-edge technologies including end-to-end autonomous driving.
Since 2021, as the market has grown more rational and automotive intelligence has entered its second half, intelligent driving has moved toward scaled commercialization. For autonomous driving suppliers, product competitiveness and mass production orders have become critical benchmarks. Within two and a half years, PhiGent Robotics has secured contracts for over 1 million intelligent driving units and over 500,000 binocular product units. Based on Horizon Robotics' Journey 6 and Journey 5 computing platforms, the company covers highway and urban NOA projects for multiple best-selling models from leading international and domestic automakers.
With "extreme cost-performance" product solutions and an "In China For Global" market strategy, PhiGent Robotics has set a new benchmark for Chinese intelligent driving manufacturers.
"We are honored to receive strong support from Beijing E-Town. As Beijing's High-Level Autonomous Driving Demonstration Zone 3.0 advances in depth, Beijing Yizhuang has become a national leading hub for autonomous driving innovation," said Dr. Yi Shan, co-founder and CEO of PhiGent Robotics. "PhiGent Robotics will leverage extreme cost-performance solutions to facilitate the scaled deployment of high-level intelligent driving products and accelerate the development of new energy and intelligent vehicle industries in the region. We have always insisted on driving commercial transformation through technological innovation. Through leading AI and engineering capabilities, and through collaborative optimization of sensors, algorithms, and computing power, we achieve cost reduction through technology and platform replication, delivering incremental value to our customers for mutual success. Going forward, we will continue to work closely with industry partners to jointly advance the intelligent transformation of China's automotive industry, while accelerating our expansion into global automotive markets and continuously enhancing the global influence of China's intelligent driving and AI technologies."
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