PhiGent Robotics is accelerating its industrial expansion and commercialization with the fresh funding.
PhiGent Robotics (Chinese:鉴智机器人), a self-driving solution provider, announced its closing of a USD 30 million Series A round of funding today. The funding round was led by Ince Capital, with follow-on investment from existing shareholders including Atypical Ventures, 5Y Capital and GSR Ventures. In addition, strategic investor Horizon Robotics has provided strong support in the commercial implementation.
The money will be mainly used for technology development, mass production implementation and wider commercial deployment.
Founded in 2021, PhiGent Robotics focuses on the R&D of autonomous driving solutions with vision 3D as the core.
According to Du Dalong, co-founder of PhiGent Robotics, artificial intelligence has gone through voice intelligence for one-dimensional signals, image intelligence for two-dimensional signals and is moving towards a broader 3D intelligence. Visual 3D solutions have stronger scalability and can build more comprehensive information on environmental perception.
Liu Kai, Partner at 5Y Capital, said 5Y Capital continues to focus on technological change and innovation opportunities in the market. PhiGent Robotics' unique insights on technology innovation and industry are in line with the areas that 5Y Capital focuses on.
The competitors of PhiGent Robotics include Deepway (Chinese: 京深深向科技), Boundary AI (Chinese: 边界智控) and Rock AI(Chinese: 路凯智行).