Yihang Intelligent received RMB 100 million in B+ round financing

The autonomous driving solution service provider "Ehang Intelligent" announced that it has received RMB 100 million in B+ round financing from a fund under GAC Capital. This round of financing will be mainly used for L2-L3 autonomous driving mass production, L4 autonomous driving technology research and development, and team expansion.  Ehang Intelligent was established in August 2015, with the goal of providing a complete autonomous driving domain controller for domestic and foreign OEMs, covering all aspects of perception, decision-making, and control, including a complete set of fault diagnosis algorithms that meet functional safety requirements. The company received angel round investment from Mingshi Capital, CHJ Capital, and Zhou Hang in August 2016, and received A round investment from Matrix Partners China and Zhihe Holdings in January 2017. In August 2018, it received RMB 220 million in B round financing, led by CICC Jiacheng, followed by Source Code Capital and CICC Jiazi, and the original shareholder Matrix Partners China continued to follow up. It had revenue in 2017, with revenue of several million yuan at that time, and will have revenue of tens of millions in 2019.