Chinese self-driving startup Uisee Technology (Beijing) Co. Ltd. announced today that it has raised RMB 1 billion ($154 million) to strengthen its research and development in key technologies to realize “comprehensive, fully unmanned, all-weather” driving solutions. .
The round was led by the Guokai National Manufacturing Transformation and Upgrade Fund, supported by the Chinese government.
Founded in 2016, Uisee offers a variety of self-driving solutions with a particular focus on no-name driving. The company offers solutions for taxis, autonomous buses, logistics and airport services. The company’s technology leverages artificial intelligence and big data to provide self-driving solutions to deliver an enhanced experience and safety.
Uisee’s technology is currently at Level Four Autonomy, which means fully autonomous driving but a human driver can take control. Although the technology is applicable to self-driving cars, its Chinese language website concentrates on the application of technology for no-name logistics solutions.
The technology is considered ideal for specific scenarios such as airports, ports and factories, with the ability to provide nameless, comprehensive, all-weather logistics transportation capable of autonomously planning the driving route while throughout the process. The technology is said to realize obstacle avoidance and autonomous parking with a backup to “go to the security guard” without manual operation in case something goes wrong.
The company’s largest customer is Hong Kong International Airport, which uses Uisee technology for automated electric tractors, carts that transport baggage between different points in the airport. According to Deal Street Asia, HKIA began using Uisee’s technology with the world’s first AET in December 2019 before expanding service areas in October to carry air-to-sea and sea-to-air passenger baggage. The airport announced January 17 that it intended to replace all traditional hand-operated baggage tractors with AETs by the end of the first quarter.
Uisee also has a partnership with SAIC Motor Corp. Ltd., one of China’s largest automakers and the owner company of MG Motor UK Ltd.
A Chinese company that develops autonomous vehicle technologies in China may not always stand out, as many Chinese companies do. But investors from Uisee are particularly interesting.
Before the Chinese Communist Party took a new stake in the company with this funding round, one of the big investors was the German company Robert Bosch Gmbh, a company notable not only for its power tools, but also for its industrial and mobility divisions – which include technology for cars.
Other investors in the company include Shenzen Group, Fujian Septwolves Industry Co., CICC Capital, CITIC Securities and the Xiamen Qipliang Energy Saving and Environmental Protection Fund.