Haomo.ai, an emerging name in autonomous driving, recently celebrated an injection of 100 million yuan ($14M) in a new funding round. This marks the initial phase of its Series B financing, supported by Chengdu Wufa Private Equity Fund Management—a firm with roots in the local government of Chengdu.
- Shift in Investment Patterns: With international venture capital becoming more hesitant about Chinese investments, domestic sources, especially those buoyed by local government funds, are stepping into the gap to support China’s tech innovators.
- Haomo’s Journey and Ambition: In its four years, Haomo, led by CEO Gu Weihao, has marshaled over $200M in equity funding, showing a strategic focus on developing Level 2 advanced driver assistance systems (ADAS) catering primarily to Great Wall Motors, its primary investor, alongside Level 4 solutions for the logistics sector with clients including Meituan, Alibaba, and JD.com.
- A Significant Partnership in Chengdu: The recent funding underscores a collaboration with Chengdu, aiming to spearhead robotics innovation in Wuhou District.
- Haomo’s Technological Milestones: With its ADAS technology, Haomo has already empowered over 20 vehicle models, accumulating around 120 million kilometers of driven distance. On another front, its autonomous delivery vans have successfully completed about 300,000 grocery deliveries in Beijing.
Bolstered by Great Wall Motors, Haomo benefits from a unique vantage point, allowing it to fund its ambitious R&D efforts while broadening its market outreach beyond a singular customer base, to include three other OEMs.
