(Yicai Global) April 11 -- Chinese autonomous driving unicorn Haomo has secured hundreds of millions of Chinese yuan, equivalent to tens of millions of US dollars, in its latest funding round, led by the investment arm of the Bank of China.

Another participant in the Series A+ financing round is existing investor Shoucheng Holdings, the Beijing-based startup said today.

The funds will be spent on research and development and talent recruitment so as to solidify Haomo's leading position in the self-driving field, it said.

The firm bagged almost CNY1 billion (USD150 million) in its Series A funding round in December last year with takeout giant Meituan as well as investment firms Qualcomm Ventures and GL Ventures among the participants. And it has already kicked off its Series B round.

Founded in 2019, Haomo makes low-speed unmanned Level 4 logistics vehicles. These have recently been deployed on the streets of Shanghai to deliver groceries to residents amid the recent Covid-19 lockdown.

It also provides Level 2 self-driving systems and its Navigation on HPilot system is installed on six car models produced by Great Wall Motor.

“Haomo expects to roll out the urban road version of NOH by mid-2022, and the all-scenario version in the second half of this year," said Chief Executive Officer Gu Weihao. The company also plans to launch its own self-driving fleet next year, he added.

Editor: Kim Taylor