Self-driving startup CalmCar closes $150 million Series C funding round
Summary
CalmCar, a Chinese startup self-driving technology provider, announced on July 22 that it closed a Series C round of funding of approximately $150 million and plans to launch an IPO in 2022. The funds raised will be used to expand hardware and software capacity for L2-L4 high and low-speed autonomous driving systems, with the goal of mass production in vehicles by 2022, the company said. German automotive parts maker ZF Group, a key backer of CalmCar, led the round, with other investors including VinFast and Unicom Capital. ZF can now provide solutions ranging from sensory fusion to planning and control execution algorithms that can meet different needs of customers from L2, L2+ to L3 mass production. Some of SAICs models equipped with CalmCars parking system are expected to reach mass production status this year.