Beijing-based automotive electronics supplier HiRain Technologies has raised RMB 210 million (USD 30 million) from investment bank and private equity investor China Renaissance, 36Kr reported on Tuesday.
The company, which was founded in 1998, provides automotive electronics for driving assistant systems, door/window/light control systems, braking systems, and charging control systems. Customers include General Motors, Ford, FAW-Volkswagen, BAIC, and Geely, among others, according to HiRain’s website.
HiRain also provides other next-gen automotive technology, such as environmental perception, sensor fusion, and decision planning solutions to intelligent driving firms, says the company on its website, without naming clients.
The new funds will allow HiRain to speed up development of products and services related to autonomous driving, Internet of Vehicles, and new energy vehicles.
36Kr is KrASIA’s parent company.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.