Zongmu Technology received over 1 billion yuan in E-round financing

Autonomous driving technology company Zongmu Technology recently completed an E-round financing of more than 1 billion yuan, led by Dongyang Guanding, with the latest valuation of about 9 billion yuan. This round of financing will be used to accelerate the R&D investment in autonomous driving mass production projects, and plans to build an industrial park in Dongyang, Zhejiang to support 2 million autonomous driving systems per year. Founded in 2013, Zongmu Technology has become China's leading provider of autonomous driving and advanced driver assistance systems (ADAS) products and technologies, and has established mass production partnerships with many first-tier mainstream host manufacturers.