Country for PR: China
Contributor: PR Newswire Asia (China)
Thursday, May 17 2018 - 13:42
AsiaNet Raises $128M in Round-A and Announces 1st Generation Product "Aries"
SHENZHEN, China, May 17, 2018 /PRNewswire-AsiaNet/ --

World leading level-4 autonomous technology pioneer announced 
US$128 million in Series-A funding on May 15th, which was led by Wu Capital and 
Shenzhen Capital Group, joined by Yunqi Partners, CMB International Capital, 
and Vision Plus Capital.


Together with the announcement, also released its first 
self-driving tech kit "Aries", which is the first One-Cable Autonomous Driving 
Solution with the most cost-effective LiDARs made in China.

"Aries are compatible with sensors of different brands and types. It can enable 
L4 performance with a per-vehicle cost under 50,000 RMB, which is under 
US$8000," said Dr. Xianqiao Tong, founder & CEO of

After carried out public road testing both in the U.S. and China, 
Chinese media reported "Aries" as a major step of closer to 
production, and believed that the efficient and safe autonomous driving 
solution with much cheaper cost than its competitors will help to 
develop a huge market in the coming years.

Founded in May 2017 with its headquarters in Shenzhen, China, has 
established twin R&D centers in Shenzhen, China and Silicon Valley, USA. Now is the only Chinese autonomous driving technology startup who has 
established official partnership with top tier1 and automobile manufacturers 
globally, thanks to its two independently developed core technologies -- 
HeteroSync & DeepFusion.

Established only one year ago, already achieved several leading 
benchmarks in the industry. It won the 1st place of the computer vision 
benchmark at Cityscapes dataset and ranked top 3 in KITTI 3D detection dataset. team is an impressive roster of talents that includes engineers who 
worked in top autonomous driving companies like Google, Tesla, Apple, Nvidia, 
and Baidu USA, etc. Their ambitious goal for 2020 is to reduce its self-driving 
vehicles' safety driver intervention rate to one instance per 1,000 km 
travelled. will deploy 50 new self-driving vehicles in China this 
year, and expand the fleet to 200 in 2019 and 1,500 by 2020.

" will provide fully autonomous robotaxi services for an 
intelligent, efficient and safe mobility experience in future," said Tong. "But 
before we step into the world of safe and comfortable autonomous driving, the 
artificial intelligence technology has to be perfect."