Bitauto News On February 25, 2021, ECARX Technology (ECARX) received another A+ round of financing. The company was co-founded and developed by Mr. Li Shufu, Chairman of Geely Holding Group, and Mr. Shen Ziyu. The GKUI/intelligent vehicle system used by Geely’s products. This financing was led by China State-owned Capital Venture Capital Fund (a fund under China Guoxin Holdings Group), with the financing amount exceeding US$200 million.
After the financing was completed, the overall valuation of Yikatong Technology exceeded US$2 billion. This is another round of financing obtained by Yikatong Technology within four months after announcing the completion of Series A financing in October 2020. This round of financing not only marks the capital market’s further recognition of Yikatong Technology, but will also promote Yikatong Technology’s comprehensive international strategic layout and accelerate its progress towards the world’s leading automotive intelligent technology company.
As an automotive intelligent technology company founded in 2016, Yikatong Technology has made remarkable achievements in just four years: it not only released the E series of automotive infotainment chips, but also cooperated with Baidu Apollo , Huawei Smart Travel, ByteDance Huoshan Auto Entertainment and other excellent partners to establish more and broader cooperative relationships. At the same time, by accessing more other application developers, Yikatong Technology has also built an open intelligent network ecological platform, creating an intelligent network system with the fastest growing number of users in the industry in China.
In December 2020, Yikatong Technology established its European headquarters and product research and development center in Gothenburg, Sweden, taking an important step in the internationalization process. In February 2021, Yikatong Technology cooperated with two of the world's top technology companies, Visteon and Qualcomm, to jointly develop smart cockpit solutions that are widely applicable to the global market. With the completion of the A+ round of financing, Yikatong Technology will fully develop its international strategic layout, establish a team structure and culture for cross-regional collaboration, build an international industrial R&D system, carry out business cooperation with global mainstream car companies, and serve the world The market provides technology and platform services.
In the future, Yikatong Technology will continue to accelerate the capitalization process and deepen its R&D investment in automotive chips, smart cockpits, smart driving, high-precision maps, big data and Internet of Vehicles cloud platforms. Through rapid iteration of products and services, we will continue to strengthen our competitiveness in the global market and quickly move towards becoming the world's leading automotive intelligent technology company.
As early as October 2020, Yikatong Technology has received up to RMB 1.3 billion in Series A financing from Baidu and Haina Asia Venture Capital.
Yikatong Technology is an automotive intelligent technology company established in 2016. It was co-founded by Mr. Li Shufu, a well-known Chinese automotive entrepreneur, and Mr. Shen Ziyu. The company has more than 1,700 employees and has established branches and R&D centers in Hangzhou, Beijing, Shanghai, Wuhan, Dalian and Gothenburg, Sweden. In 2020, it received strategic investment from Baidu and Haina Asia.
Yikatong Technology not only focuses on core technology products such as in-vehicle chips, smart cockpits, smart driving, high-precision maps, big data and Internet of Vehicles cloud platforms, but also continues to build an industry-leading intelligent network ecological open platform , empowering car companies to create a smarter and safer travel experience. At present, Yikatong Technology's intelligent network connection system has more than 2.4 million users worldwide.