ECARX, A Chinese Automaker Raises $1.3 Million In Series A Led By Baidu

ECARX

What is ECARX?

ECARX is an ancillary of Geely, stated in Hubei, China is a roof to 1600 employees who provide short solutions for vehicles.

ECARX is a Chinese traffic assistant for cars backed by Geely, a Chinese Automaker.

ECARX garrisonsHiveMQto Alibaba cloud SLB within a congregated environment which is powered by 3 notes each comprising of eight cores 16G Centos EC2 servers.

Vehicle authentication is accessed by Hive MQ and the further authorized data is stored in the Redis and Postgresdirectories.

They have initially signed an official strategic partnership with Baidu Apollo in 2019. They are in continuation with deep cooperation in the fields of AI brain, voice technology, XiaoduIn-Car OS, and car-mounted maps.

Also Read: Kirana Charzer, A Start-Up That Turns Kirana Stores Into Electric Vehicle Charging Stations

ECARX
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Funding:

ECARX was founded by the Yangtze River Industry Fund in 2017. They were able to raise the fund of CN Yen3 Million, in one round. The date of the angel round raised fund was 7th December 2017.

Later this year, a Series A funding round was led was Baidu and is co-invested by SIG China.

These investors are keen to show their support in the automobile traffic assistant company for core technologies. They will be highly supportive of increasing the strategies globally.

On 26th October 2020, ECARX has managed to raise a fund of$194,456,470. The final valuation of the company has reached $1,495,819,000 after the series A fund.

ECARX mentioned in their WeChat post that the funds which are further joined by Susquehanna International Groupvelocity used to develop the technology of autonomous driving, HD mapping, and developing car chips.

By the end of 2020 ECARX is expecting to launch its R&D hub in European areas to supply their services and technologies to the local market.

The company has come out with a completely increase volume production strategy with R&D allowing them to ship these strategies around autonomous driving and microcontrollers.

After the series A round the company has excess to the capital market and is ever since moving faster to strengthen them.

Their involvement with strategic investment from Zhejiang Geely Holding Group has revolutionized their developing dedications with products like auto-related chips, intelligent driving, HD map, big data, and Internet of Vehicles(IoV) cloud-based platform.

They have successfully build a quarter which aliens with vehicle management and their connectivity integrations with cloud-based and big data.

They have been continuously using an improved GKUI experience, an application platform owned by Geely, to master the art of collaborative possibilities with the power of the internet.

Kritika
Student with ambitions, writer with ideas.
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