The funding raised will boost its international strategic layout, team building and accelerate the research process.
On February 25, ECARX announced it raises USD 200 million in Series A+ financing, led by the China State-Owned Capital Venture Investment Fund. After completing this round of funding, the overall valuation of ECARX will reach USD 2 billion.
In October 2020, ECARX just completed round A financing of CNY 1.3 billion led by Baidu and followed by SIG. According to the company, the funding raised will boost its international strategic layout, team building and accelerate the research process.
ECARX is an automobile intelligent technology company established in 2016, and its strategic investor is Geely Holding Group. The company focuses on core technology products such as car chips, intelligent cockpit, intelligent driving, high-precision maps, big data, and cloud platform of Internet of vehicles and is devoted to building a smart Internet ecological open platform. At present, the company has more than 2.4 million users and 1,700 employees worldwide.
Although our country has a relatively complete automobile supply chain system, there are still many shortboards. The competitiveness of some key technologies, parts, materials, essential components, and equipment is weak. Vehicle chip is one of them.
In 2016, Geely Holding Group invested in ECARX technology to break through the situation, promote the research of vehicle chips and build a super core computing platform for future vehicles.
At present, ACARX has formed four serial chip matrices: E series of vehicle specification level digital cockpit chip, V series of full-stack AI voice chip, AD series of driving aid chip, and M series of micro-control processor.