Fabu Technology receives over 100 million yuan in financing

More than a year after the last round of financing, Fabu Technology recently completed another round of financing. This B2 round of financing of over 100 million yuan was jointly invested by the Anhui Provincial Railway Development Fund and the Zhejiang University Education Foundation. The funds will be used for the research and development of autonomous driving product technology to accelerate the intelligent upgrading of traditional industries such as ports. First, in November of the same year, Fabu Technology's autonomous driving truck fleet landed in Nantong Port, Jiangsu. It was composed of multiple models such as autonomous driving trucks + IGV (intelligent flatbed transport vehicles). It was the first unmanned truck fleet in Jiangsu. In September this year, Fabu Technology and Ningbo Zhoushan Port Meidong Company completed the signing of the fourth phase of cooperation and continued to expand the application. At present, the number of unmanned trucks in Ningbo Zhoushan Port has exceeded 60, accounting for more than 20% of the total number of trucks at the terminal. It is the world's largest unmanned truck fleet at a single terminal. At present, Fabu Technology's full-stack self-developed product system includes an L4-level vehicle-side intelligent driving system that can remove safety officers for port real-ship operations, a remote control system that meets the full unmanned operation of the port, and a fleet and port machinery equipment dispatching management system that improves efficiency. For reference, Fabu Technology has completed four rounds of financing. It completed the A round of financing in 2019 with a transaction amount of over 10 million US dollars; the B round of financing in May last year was hundreds of millions; the B+ round of financing in August of the same year was 100 million; and this round of financing continued to be hundreds of millions.