PATEO Car Network Technology Completes D Round of Financing, Valuation Reaches RMB 8.572 Billion

PATEO's clients include many well-known automakers, such as Dongfeng, Wuling, Wenjie, Avita, etc. In addition, the company also provides services to internationally renowned automakers. Currently, PATEO's clients include three of the top five automakers in China and four of the top five high-end emerging new energy vehicle brands in China. PATEO completed its Series D financing in the first half of 2024, raising a total of approximately RMB 1.047 billion in net proceeds. After this round of financing, the company's valuation reached RMB 8.572 billion. The list of shareholders includes Dongfeng Group, China First Automobile Group Co., Ltd., Shanghai Guosheng and Tianjin Jinmi, a subsidiary of Xiaomi Group.