Self-driving firm Haomo.AI Technology has bagged 300 million yuan ($41.4 million) in a Series B2 round while generative AI firm AIsphere has secured 100 million yuan ($14 million) in its Series A2 round.
State-affiliated investor leads Haomo.AI Technology’s Series B2 round
Self-driving firm Haomo.AI Technology has secured another 300 million yuan ($41.4 million) in its Series B2 round from a fund set up by the Changxing government in the city of Huzhou, according to a company release on Wednesday.
The round, which also roped in existing backer JZ Capital, came two months after the firm sealed its 100-million-yuan ($14 million) Series B1 round in February. The proceeds will be used on R&D, per the release.
Founded in November 2019, the Beijing-headquartered company develops advanced driver-assistance systems for passenger vehicles and last-mile logistics autonomous delivery vehicles.
Ant Group leads AIsphere’s A2 round
Generative AI firm AIsphere has raised 100 million yuan ($14 million) in a Series A2 round led by Chinese fintech juggernaut Ant Group.
AIsphere, as one of the Chinese challengers of OpenAI’s text-to-video model Sora, was set up in April 2023 by Wang Changhu, who previously headed the Vision Technology department at ByteDance, according to his website.
With offices in Shanghai and Beijing, the firm launched the AI video creation platform PixVerse targeting creators outside of mainland China in January. Wang said in the release that he targets to “catch up” with Sora within three to six months.
AIsphere sealed its 100-million-yuan ($14 million) Series A1 round in March led by Fortune Capital.
