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36Kr/KrASIA

China's HiRain Technologies raises $30m for self-driving tech

Funds to speed development of connected vehicles

An autonomous vehicle is displayed in Guangdong Province, China in February 2019.   © Reuters

BEIJING -- Beijing-based automotive electronics supplier HiRain Technologies has raised 210 million yuan ($30 million) from investment bank and private equity investor China Renaissance.

The company, which was founded in 1998, provides electronics for driving-assist, braking, doors, windows, light and charging systems. Customers include General Motors, Ford, FAW-Volkswagen, BAIC and Geely, according to the HiRain website.

HiRain also provides other next-generation automotive technology, such as environmental perception, sensor fusion and decision planning solutions to intelligent driving companies, according to its website.

The new funds will allow the company to speed development of products and services related to autonomous driving, connected vehicles and new energy vehicles.

For the original story from KrASIA, click here.

KrASIA is a digital media company focused on technology-driven businesses and trends across the Asia-Pacific region. It is part of 36Kr, a tech news portal based in Beijing. Nikkei has a minority stake in 36Kr.

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