ECARX raises USD193.7 million in Series A funding round
Geely-backed company will use fresh capital to strengthen its presence in automotive chips, invest in R&D of high-precision maps and autonomous driving technology, and set up a R&D center in Europe
ECARX Technology has completed a Series A funding round raising CNY1.3 billion, the company said in a press release on 26 October. The funding round was led by Baidu and also included Hainer Asia Ventures. ECARX raised the new funds at a valuation of more than CNY10 billion.
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