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QCraft nabs hundreds of millions of yuan in Series C funding round

iconJun 14, 2024 18:35
Source:gasgoo
On June 14, advanced intelligent driving solutions provider QCraft announced the completion of its Series C funding round, securing several hundred million yuan.

Beijing (Gasgoo)- On June 14, advanced intelligent driving solutions provider QCraft announced the completion of its Series C funding round, securing several hundred million yuan. The investment was jointly led by Zhongguancun Science City and Cuihu Capital.

The new funding will be used to enhance QCraft’s experience of mass-produced intelligent driving features, develop a platform-based product system, and establish standardized delivery processes. These improvements aim to support the concurrent development and delivery of multiple customer projects and accelerate the large-scale mass production of mid-to-high level intelligent driving solutions. Additionally, funds will be allocated to advancing AI large models and end-to-end autonomous driving technologies, maintaining QCraft's position at the forefront of innovation and technology.

Through extensive collaboration and large-scale production delivery with top-tier clients both domestically and internationally, QCraft has built a robust commercial ecosystem. Embracing a culture of innovation characterized by agility, efficiency, and speed, QCraft secured production cooperation with several leading automakers within just two years. In May, the company completed the mass production delivery of its NOA solution for a leading new energy vehicle company, with nearly 400,000 units equipped.

QCraft has achieved notable milestones, including delivering and mass producing BEV "super-fusion" perception and integrated driving-parking full-stack solutions based on Journey 5. Furthermore, it launched the "QCraft Chengfeng" solution based on the Journey 6, achieving immediate production delivery. This new solution has already attracted interest from multiple clients, with QCraft and its partners exploring collaboration opportunities to help automakers navigate industry cycles more effectively.

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