Chinese Self-Driving Startup Haomo.Ai Entres Unicorn Club After $157M Series A Round

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Beijing-based autonomous driving startup Haomo.AI has raised nearly 1 billion yuan ($156.9 million) in a Series A round of financing to reach a unicorn status with a valuation of over $1 billion, the startup announced on Wednesday. The startup closed a pre-Series A round earlier this year at what it called “hundreds of millions of Chinese yuan.”The Series A round “marks the first victory we have ever gained in our battle for survival in the protracted autonomous driving race With the new financing, the startup will work with partners “to speed up the rollout of new products and services.” In addition, the startup also produces unmanned Level 4 self-driving logistics vehicles to handle tasks like groceries and e-commerce parcels deliveries to customers of its partnered platforms including Meituan, Wumart’s on-demand grocery unit Dmall, and Alibaba.