WUHAN, China, March 1, 2019 /PRNewswire/ -- Recently, Chinese Leading Intelligent Driving Solution Provider JIMU Intelligent announced that it has completed a Series B funding round and raised over $15 million. The funding round was led by Translink Capital and participated by Hyundai Motor Company, Estar Capital, HGC, Yucheng Fund and Optics Valley Elite Fund.
Established in 2011, JIMU Intelligent is an artificial intelligence company dedicated to the R&D and application of intelligent driving, providing Level 0-Level 3 intelligent driving solutions and derivative data products and services. The core team comes from global top universities and enterprises, and has considerable experience in computer vision, deep learning and sensor fusion.
With the advent of intelligent driving trend, regulations issued by Chinese government have been primarily enacted in the bus field since 2018. Based on its technical advantages and long-term attention on the industrialization of intelligent driving, JIMU Intelligent outran its competitors and became the exclusive solution provider for more than 50% of the TOP15 bus manufacturers in China, supplying solutions to Higer, Golden Dragon, Youngman Bus, Yinlong, Sunlong Bus, Wanxiang Auto, Weichai Power, CRRC Times, etc., ranking No.1 in terms of large coach OEM customer share in China.
In the passenger vehicle field, JIMU Intelligent are cooperating with many global top OEMs and Tier 1 suppliers in diverse scenarios.
In the aftermarket, JIMU Intelligent are currently centered on providing solutions for fleets, intelligent buses, and commercial vehicle insurance industries. Its products have passed relevant oversea technology standards, and are exported to overseas markets including Korea, Singapore and Indonesia.
The core reasons behind these market outcomes are the competitive advantages JIMU has gained from years of industry experience: the power of Technology-Product-Mass Production. Technology Power is embodied in its continuous output of leading and reliable artificial intelligence algorithm, Product Power is its ability to bring concept to reality with producible goods, and Mass Production Power lies in its ability of cost control and the ability to unite the industry chain to get the products to market fast.
In the technology aspect, JIMU Intelligent driving solutions utilize sensors like cameras, radars, and LiDARs to perceive the driving environment, including vehicles, lanes, pedestrians, traffic signs, free space, driver status, etc, providing a basis for accurate decision making and control. The algorithm is also especially optimized for the perception of many local driving situations, so that it could function stably and deliver outstanding detection accuracy even in complex scenarios.
In the product aspect, JIMU Intelligent is providing cost-competitive, high-accuracy Level 0-Level 3 intelligent driving solutions for passenger vehicles, commercial vehicles and aftermarket applications. The solutions may vary in sensor types to meet different application requirements, delivering the best cost competitiveness while maintaining necessary redundancy. Solution features range from collision warning to vehicle control, including detection of vehicles and pedestrians, free space, automatic emergency brake, lane keeping assist, adaptive cruise control, driver status detection and driver identification.
The wave of automobile intelligence brings an industrial convergence involving automobile, transportation and real estate, etc., giving rise to a market of tens of billions of dollars. Chinese intelligent driving enterprises like JIMU Intelligent will face enormous opportunities and challenges, shouldering the mission of empowering cars with self-developed artificial intelligence technologies.
As for this funding round, Jianwei Cheng, CEO of JIMU Intelligent said: "Automobile intelligence is a golden opportunity, and the China market is growing rapidly. In the face of opportunities, we must always maintain a keen insight, and also be steadfast in the perfection of our technologies and products. Thanks to TransLink Capital and other investors for their recognition of our team, we will always remember where and why we start, and continue to accelerate the development of intelligent driving technologies and its commercialization journey."
Yang Fei, Managing Director of Translink Capital China, said: "We have always been paying attention to innovative technological enterprises in the intelligent driving field. As one of the earliest enterprises dedicated to intelligent driving in China, JIMU Intelligent is a very low-key, pragmatic and excellent team. We are optimistic about the huge space and opportunities JIMU faces, and are very happy to be able to accompany the team to go further in the commercialization of Intelligent driving."
Sungwoo Shin, head of Hyundai Motor Company CVC team, said: "Pragmatic productization capabilities, and efficient customer introduction and execution capabilities are very vital during the commercialization of AI, and those are exactly what we've been deeply impressed with JIMU team."
Additionally, JIMU Intelligent has also reached a strategic cooperation with Hyundai Motor Company for accelerating the industrialization of intelligent driving technologies in the passenger vehicle field.
About JIMU Intelligent
JIMU Intelligent, founded in 2011, is a leading AI company that dedicated to vision-based intelligent driving technology. Based on its self-developed computer vision technology, JIMU is always in pursuit of the development and popularization of intelligent driving.
SOURCE JIMU Intelligent