Beijing-based autonomous driving start-up Yihang.ai today announced that it has raised RMB220 million (US$32 million) in series B round led by CICC Jiacheng Investment, a wholly-owned subsidiary of CICC. The latest round of funding witnessed the participation of new investors, Source Code Capital and CICC Alpha, as well as exiting investor Matrix Partners China. Yihang.ai was founded in 2015 by Chen Yuxing, a graduate of Berkeley Modal Predictive Control and Vehicle Dynamic Lab (MPC|VDL). Its production model is equipped with …

CICC Subsidiary Leads $32M Series B Round In Chinese Autonomous Driving Start-up Yihang.ai appeared first on China Money Network.


Visit the original source and full text: China Money Network