Recently, EVAS, a Guangzhou-based autonomous driving chip supplier, completed its pre-A round financing worth CNY 300 million, which is expected to be used for market expansion.
Autonomous driving summary report
On October 24, autonomous driving chip provider EVAS Intelligence (Chinese: 奕行智能) (hereinafter referred to as "EVAS") announced the completion of its pre-A round of financing amounted to CNY 300 million (USD 52 million), which was led by GAC Capital (Chinese: 广汽资本) and Oriental Fortune Capital (Chinese: 东方富海), followed by Yuexiu Fund (Chinese: 越秀产业基金) and Guochuang Zhongding (Chinese: 国创中鼎) and some old equity-holders, including CTC Capital (Chinese: 和利资本), Sunic Capital (Chinese: 临芯投资), Volcanics Venture (Chinese: 火山石资本) and Hivision Technology (Chinese:海威科技). The money is expected to be used for market expansion. Up to now, the company has raised approximately CNY 500 million, with CNY 200 million from its Angel financing round.
Established in January 2022, EVAS is a Guangzhou-based autonomous driving chip provider with a core team of nearly 150 people. The company specializes in autonomous driving algorithms and chip research, aiming to be a leading self-driving chip company globally. At the beginning of its establishment, the company received strong support from domestic customers, which enabled EVAS to achieve mass production and serve global customers quickly.
The booming of China's intelligent vehicle industry enables autonomous driving a great opportunity. In the future, EVAS will increase the investment in product R&D and cooperate with OEMs, maintaining competitiveness in autonomous driving worldwide.