(Yicai Global) Feb. 27 -- Kuandeng (Beijing) Technology Co., the first high-tech venture company to focus on high-accuracy mapping in China, has finished its round-A financing, netting hundreds of millions of yuan, it said. The company will achieve groundbreaking progress by smartifying its high-accuracy maps to optimize its technical efficiency.
IDG Capital led this round of financing followed by Chengwei Capital and Lanting Capital. The high-accuracy mapping service Kuandeng offers represents a necessary basic data service for the entire driverless vehicle industry chain in which its other units are active. The company seeks to popularize autonomous driving through crowdsourcing high-accuracy mapping services and complete data services for self-driving cars via cloud platforms.
Core members of Kuandeng's team mainly come from famous internet companies like Alphabet Inc., Baidu Inc., Alibaba Group Holdings Ltd. and Tencent Holdings Ltd. Founded half a year ago, the company mainly researches and develops technology.
High-accuracy map is a necessary segment of automatic driving technologies, noted Guo Yihong, a partner in IDG Capital. The sector above all will face the challenges of technology and its localization in China. The earlier it sets its footprint there, the more market share it will gain, he added.