DeepRoute raises $300 million from Alibaba, Jeneration Capital, Geely

DeepRoute.ai said on Tuesday it has raised $300 million from investors including e-commerce company Alibaba, Jeneration Capital, Geely Holding and others to expand its test fleet and develop technologies including self-driving trucks.

The Chinese autonomous startup DeepRoute.ai did not reveal its valuation.

DeepRoute.ai is testing vehicles in the Chinese cities of Shenzhen and Wuhan.

It will be using the funds to double the fleet of its test robotaxis to 150 by the end of this year from the current 70, its chief executive Zhou Guang said.

It will also increase its workforce to 600, including in-vehicle safety drivers, by the end of this year from 400 currently.

Founded in 2019, the startup works with Dongfeng on autonomous technologies. It also collaborates with Geely’s ride-hailing unit Cao Cao.

The startup will also develop self-driving light duty trucks for urban logistics services, Zhou added.