HoloMatic, a startup company dedicated to providing autonomous driving solutions, announced its completion of C2 round financing worth hundreds of millions of CNY. The investment will be used for HoloMatic's continuous effort on high-level technological innovation in autonomous driving, mass production and more.
In November 2022, HoloMatic (Chinese: 禾多科技) announced that the company successfully bagged a C2 round of financing worth hundreds of millions of CNY, led by GAC Capital (Chinese: 广汽资本) and followed by Chaos Investment (Chinese: 混沌投资) and Guangzhou Zhidu Investment (Chinese: 智度资本). The investment will primarily be used for continuous R&D of high-level technological innovation in autonomous driving, mass production and more. Up until now, the amount of investment HoloMatic secured from its C round financing has amounted to USD 100 million.
Founded in 2017, HoloMatic is a Beijing-based company which has been focusing on utilizing cutting-edge technologies including AI and automotive engineering to promote the mass implementation of domestic data-driven autonomous driving solutions. At present, HoloMatic has equipped with R&D capabilities for full-stack autonomous driving under a complete business layout covering AI algorithms, embedded systems, closed-looped big data technology and continuous systematic iterative development.
With the economic downturn and the emerging trend of mass adoption of intelligent automobiles among the population, institutional investors exhibit a rather calm and pragmatic attitude towards autonomous driving companies. Yet upon completing this round of financing, HoloMatic demonstrated contrarian growth in such a challenging industrial environment.
"This C2 round of strategic financing marked an important milestone for HoloMatic, a company with only 5 years of history." Kai Ni, Founder and CEO of HoloMatic commented. He stated that HoloMatic will continue to create larger industrial value and provide consumers with safer and more comfortable driving experience, ultimately accelerating the development of autonomous driving in China and even worldwide.