uisee Secures $150M Investment for Autonomous Driving | News

Currently, Chinese smart-driving companies are receiving substantial financial support from the government as the nation strives to achieve global leadership in artificial intelligence within the next ten years. Recently, Uisee, a Beijing-based company established by a team of experienced technology professionals—including Wu Gansha, formerly of Intel Labs China—received a significant investment.

Uisee announced on Monday that it had completed a funding round exceeding 1 billion yuan (approximately $150 million) with contributions from investors such as the National Manufacturing Transformation and Upgrade Fund. This $21 billion state-sponsored fund, created in 2019, aims to enhance and modernize China’s manufacturing sector, with the Ministry of Finance holding the largest stake.

According to the official announcement, the five-year-old Uisee represents the fund’s inaugural investment in an autonomous driving company. Fund representatives anticipate that Uisee will contribute to advancements in public transportation and logistics, ultimately becoming a leading autonomous driving enterprise within China.

In contrast to companies like Mobileye and Momenta, which offer advanced driver-assistance systems while simultaneously developing Level 4 autonomous driving capabilities, Uisee bypasses ADAS and concentrates solely on driverless technology, as stated by co-founder and CEO Wu Gansha in a prior discussion.

Uisee provides technological solutions for a variety of applications, including robotaxis, city buses, airports, and logistics centers. The company has already secured contracts with prominent clients, such as Hong Kong International Airport, which utilizes Uisee’s technology to automate its baggage tractors, as well as state-owned automotive manufacturers including FAW Group and Dongfeng Motor.

This new round of funding, which also includes several unnamed “industrial investors,” will enable Uisee to accelerate its research and development efforts and facilitate the widespread commercialization of the industry. The company reports that a joint venture involving SAIC Motor, General Motors, and Liuzhou Wuling Motors has leveraged its technology to achieve 300,000 kilometers of vehicle operation without the need for safety drivers within a logistics facility.

Current investors also include Bosch, the German electronics corporation, which participated in Uisee’s Series B funding round last year, alongside Shenzhen Capital Group, backed by the Shenzhen government, and CCI Investment, a state-backed investment firm.

In recent months, numerous other Chinese startups have secured considerable funding to expedite the development of their smart-driving technologies. These include WeRide, which closed a $310 million Series B round in early 2021; Horizon Robotics, which received $150 million in December; Pony.ai, which secured $267 million in November; and Didi, the ride-hailing service, which raised $500 million starting in May for its autonomous driving division.