Beijing (Gasgoo)- Chinese developer of autonomous driving solutions for minefields, TAGE IDRIVER, announced on November 14 that it has successfully raised more than 100 million yuan in its C1 funding round.
Photo credit: TAGE IDRIVER
The new round was led by Jinsha Capital and in which Boton Technology participated. Notably, Boton Technology is one of the long-term partners of TAGE IDRIVER which has invested in the company on two other occasions.
Prior to the C1 round, TAGE IDRIVER also received strategic investment from the Shangshi Fund, whose sponsors are Yitai Group, China’s largest private coal company, and Sunwoda, China’s leading battery supplier.
Founded in 2016, TAGE IDRIVER is the first unmanned driving company focused on mining scenarios in China. The company’s innovative “vehicle-ground-cloud” architecture provides the industry with a foundational framework for the minefield autonomous transportation system.
In March 2022, the company successfully conducted a round-the-clock L4 triage operation without safety pilots in production status. The operation marked the industry’s first unmanned mining truck and the industry’s standard unmanned heavy-duty operation without safety drivers.
In 2021, TAGE IDRIVER saw its annual turnover soar by almost 400% over one year. The company predicted that its revenue in 2022 should achieve growth of 200% to 400% compared to a year ago. Currently, the company operates an intelligent driving vehicle fleet of more than 300 vehicles and has accumulated an order-in-hand value of 1 billion yuan.