CIDI is ramping up R&D, participating in New Infrastructure projects and building Smart Cities. These efforts will maintain its competitive advantage in the industry.
Changsha Intelligent Driving Institute Ltd. (Chinese: 希迪智驾, CIDI), a smart automotive technology research and development company, has raised CNY 300 million (USD 45 million) in a Series C funding round.
The company received the funds from Chengdu Science&Tech Innovation Investment Co., Ltd. (Chinese: 成都科技创新投资集团有限公司), Xinxing Asset Management Company of China (Chinese: 中国新兴资产), Ruishi Asset Management Co., Ltd (Chinese: 瑞世基金), and Qiandao Asset Management Co., Ltd (乾道基金).
According to a company statement, the proceeds raised from this round will be used to fund R&D and the company’s expansion in southwestern China.
CIDI aims for the commercialization of its commercial vehicles’ smart driving technology, known as the Self-Driving Truck Solution. This is an across-the-board embedded solution for a wide range of vehicles, capable of precision parking, loading, and unloading in various scenarios such as parks, urban areas, and highways.
Also, CIDI provides a one-stop L2 intelligent driving solution, integrated data fusion and multiple-sensor environment perception.
Public information shows that CIDI was established in 2017, but the company has around 320 patents, and most of the inventions are related to LiDAR and sensor.