Introduction:
The market for autonomous vehicles is expected to reach $667.77 billion by 2026, and marketing firm ABI predicts that as many as 8 million of these vehicles will be introduced to the road by that year. Unsurprisingly, startups like ZongMu Technology are utilising the influx of venture cash to its fullest potential. The Shanghai-based business today announced that it has received a $14.5 million follow-on series C investment that was led by Qualcomm Ventures and included Chuangtu Investment and Legend Capital of the Lenovo Group. ZongMu Technology
Businesses in this sector create the “brains”—hardware and software—that enable autonomous passenger vehicles to perceive their environment, localise themselves, and make appropriate plans. Additionally, firms creating “platform agnostic” autonomy solutions and cutting-edge driver assistance systems are included in this sector.
About:
Advanced driver assistance systems are the main emphasis of ZongMu’s research and development activities. ZongMu has its headquarters in Shanghai’s Pudong Zhangjiang Hi-Tech Park and has research and development subsidiaries in Beijing and Xiamen. Solutions for lane departure and blind spot identification are included in its expanding portfolio, along with other features like door open warnings.
Advanced driver assistance systems, such as 2D and 3D panoramic vision systems, self-parking options, and driving recording systems, are developed by ZongMu Technology. ZongMu Technology Co. has received $190 million (U.S.) in Series D funding as it works to create autonomous parking and driving capabilities. The Shanghai, China-based startup announced that it will collaborate with foreign partners to develop a whole product line for assisted and autonomous driving, ranging from semiconductors and sensors to manufacturing.
Website : https://www.zongmutech.com/en/?v=20210910
SurroundView, a camera system that combines four feeds from sensors mounted with fisheye lenses, corrects for distortion and distorted perspective, and then displays the final video on an in-vehicle screen, is one of its hallmark products. Drivers will be able to leave their cars in designated drop-off locations and call them with their cellphones using ZongMu’s automatic valet parking, which is anticipated to debut in the second half of 2020, much like Tesla’s Enhanced Summon.
Founder & Team:
Rui Tang founded ZongMu Technology in January 2013. The business is situated in Zhangjiang Hi-Tech Co., Ltd.’s central business district, which is home to the best software and semiconductor integrated circuit designers in Shanghai.
ZongMu was established in 2013 and has two factories in China, six R&D facilities spread around China, and one in Stuttgart, Germany. Customers of the company include BAIC Group, Chang’an Automobile, FAW Group, Geely, and Li Auto. The company provides advanced driver-assistance systems (ADAS) including as lane departure and blind-spot detection.
History:
There is no data of it.
ZongMu Technology Highlight:
| Company Name | ZongMu Technology |
| Founders | Rui Tang |
| Started at | – |
| Competitors | – |
| Website | – |
| Revenue | – |
| Country | – |
| Customer care Email | – |
| Customer care Contact details | – |
| Company Valuation | – |
| Industry | – |
| Headquarters | – |
Revenue:
Xiamen-based private equity firm Deyi Capital and Legend Capital jointly led an RMB100 million (about $14 million) series B financing for Chinese startup ZongMu Technology, which specialises in self-driving technology.
Funding & Investors:
According to Crunchbase, ZongMu has collected a total of $219.1 million over the course of four rounds, and its most recent fundraising increases its worth to $11 billion. The Series D3 round was led by Hubei Xiaomi Chanjiang Industrial Investment Fund Management, a smartphone manufacturer that just joined the electric car market.
The Series D2 round was headed by Cowin Capital and Goayuan Capital, and the first tranche was led by Denso Corp. Legend Capital and Qualcomm Ventures were some of the additional investors. According to ABI Research, the number of autonomous vehicles on the road might reach 8 million by 2025, and the market could be worth $677.7 billion worldwide.
ZongMu has already raised nearly $30 million with a valuation of $146 million, following a roughly $14.5 million series B in February 2017. (RMB1 billion). ZongMu creator Tang Rui stated in a statement that “this round of funding is of essential significance as it will not only enhance the growth of our technology but will make contributions to explore further potential in both domestic and global markets as well.”
Business Model:
According to a news release, the funding will be used to accelerate the company’s investment in research and development for its self-driving mass production projects and to construct a campus in Dongyang, Zhejiang province, with the capacity to supply self-driving systems for 2 million vehicles annually. At the time, a Zongmu spokesperson informed CnEVPost that the company was thinking about going public on the STAR market, China’s version of the Nasdaq for sci-tech innovation.
“Self-driving technologies and advanced driver assistance systems are significant future directions for the global automotive industry. It has a huge market potential, according to Qiu JiaSheng of Deyi Capital. “We have been looking for Chinese and international automotive high-tech companies that have strong product production capabilities in addition to independent research and development capabilities to lead the industry, and we believe ZongMu has this potential.”
Services Offered thru ZongMu Technology:
The SurroundView vision system, ZATLAS learning and simultaneous localization and mapping (SLAM) technology, and ZEALOUS cloud-based autonomous driving system are among the items made by ZongMu.
ZongMu is developing Level 4 autonomous parking as a service in addition to wireless charging for EVs. As “the first autonomous-driving firm in China to secure a fixed-point contract for L4 mass production,” the company made this claim.
Rui Tang, CEO of ZongMu, suggested that value-added services like vehicle washing and charging can be used in conjunction with automatic parking. Parking services could very well end up being our primary source of revenue in the future.
Awards & Recognition:
Among 14 other businesses, ZongMu Technology was recognised as the leader, beating out WeRide, DiDi Autonomous Driving, and Argo AI.
Competitors:
Among the 138 active competitors, which include Light, ESCORT, Pearl Auto, and Phantom, Zongmu Technology’s is ranked sixth.
Latest News:
creator of cutting-edge driver assistance and autonomous vehicle technologies. The company engages in the development of autonomous driving technologies and also provides a sophisticated driver aid system, including self-parking solutions, driving recording systems, and 2D and 3D panoramic vision systems. These systems enable better and safer driving support systems.
Future Plans:
- Drop’nGo Lite and Drop’nGo are the company’s most recent innovations in the realm of intelligent parking.
- Amphiman, a new driving/parking integrated product from ZongMu Technology, is made up of three product series: Amphiman300, Amphiman5000, and Amphiman8000.
Some FAQs:
Who developed Zongmu Technology?
Rui Tang developed ZongMu Technology.
Who invested in Zongmu?
Zongmu has 17 investors including Zuoyu Capital And Dongyang State-Owned Assets Investment.
How much funding has Zongmu raised to date?
Zongmu has raised $376M.
Conclusion:
ZongMu asserts that it has long-term strategic alliances with several original equipment manufacturers and tier-one suppliers, and that China-based automakers and components suppliers like Geely Automobile Holdings, SAIC Motor, and Yema Auto now purchase its goods.
Qualcomm is a trustworthy client as well, as one could expect. The Qualcomm Snapdragon 820A, which drives the infotainment systems in a few Volkswagen vehicles, was presented at the 2017 Consumer Electronics Show by ZongMu and the San Jose chipmaker. (A ZongMu AI model that produced multi-class item identification and road semantic segmentation simultaneously was utilised in a conference demo.)
Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.
Linkedin Page : https://www.linkedin.com/company/scoopearth-com/
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.