Autonomous driving startup Jingchi secures USD 30M to test drive in additional regions, & more

Autonomous driving startup Jingchi receives USD 30M for angel round


Founder: Wang Jing

Founded in: 2017

Financing status: RMB 197 million (USD 30 million) for angel round financing in 2017

Autonomous Driving startup Jingchi received USD 30 million for angel round on September 19th to run autonomous driving tests in China.

Jingchi is a Chinese startup focusing on the research and develop of self-driving cars and the systems that enable them. It recently completed an autonomous driving test in California and is the 34th firm to have obtained a license to test autonomous vehicles on public roads in California. Other Chinese tech firms including Baidu, NIO, and TuSimple have also received approval to test self-driving cars in the state.

Jingchi was founded in 2017 by Wang Jing, former head of Baidu’s autonomous driving unit. From 2014 to April of this year, Wang Jing was responsible for the research and development of Baidu’s big data, cloud computing, Baidu Brain, autonomous cars, and voice recognition technologies. Additionally, he is the co-founder of Baidu Research.

This new financing round was from undisclosed investors. According to Wang Jing, Jingchi previously received financing funding from Aplus Capital, an investment firm created by Yu Minhong, the founder of New Oriental. The capital raised in this new round will be used to support its test driving program in China, as well as place autonomous vehicles in China for ride-hailing services.

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Local life service platform QianBaoCard receives USD 150M for Series B


Founder: Zhao Guodong

Founded in: 2015

Financing status: RMB 1 billion (USD 150 million) for Series B financing in 2017

Local life service platform QianBaoCard received USD 150 million for Series B on September 19th to expand its services across more consumption areas.

QianBaoCard is a local life service platform that integrates with O2O (Online to Offline) services. It develops high-quality businesses in local regions and provides them with intelligent POS, financial support, depth marketing cooperation, and among others, in order to create comprehensive local life consumption scenarios. Meanwhile, it also offers customers local special-charging services, as well as credit support to facilitate said consumption.

QianBaoCard was founded in 2015 in Shanghai, and its services cover food, leisure, entertainment, beauty,, and other local life service industries. By September 12th  this year, there were more than 140,000 businesses across over 200 cities connected to QianBaoCard’s platform, contributing to a monthly turnover in excess of RMB 1.7 billion.

This Series B financing round was from a group of investors, including Banyan Capital and Guorong Financial, and so on.  QianBaoCard plans to use the funding to upgrade its services and products, to expand its services to more consumption scenarios, and to better record data from business and customer transactions.

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Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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