(Yicai Global) July 18 -- HoloMatic, a Chinese autonomous driving startup, has completed its CNY300 million (USD41.8 million) Series C3 round of financing to promote mass production.

Guangzhou-based automotive giant GAC Group and state-owned investment firm Guangdong Technology Financial Group jointly led the latest round of financing, the Beijing-based startup said in a statement on WeChat today. The firm's total Series C funding has exceeded CNY1 billion (USD140 million), it added.

Founded in 2017, HoloMatic has gained mass production projects from several manufacturers while its solutions include domain controller hardware, underlying infrastructure software, and upper-layer application software.

GAC has invested nearly CNY400 million in HoloMatic since the pair started cooperating in 2021. Since last year, several GAC models, including the electric sport-utility vehicle Aion LX Plus, are equipped with intelligent driving products made by HoloMatic.

The autopilot firm is striving to collaborate with more automakers. It has received new orders for domain controllers and smart cameras from Chery Automobile and Dongfeng Motor, and the products are expected to be mass-produced and delivered before year-end, it added.

HoloMatic has entered a new stage of mass production and delivery of intelligent driving products, according to Ni Kai, founder and chief executive. The firm will meet the delivery needs of many mass production projects by improving the research and development efficiency of core technologies, Ni added.

Editor: Emmi Laine