Financing overview of Chinese autonomous driving related companies in the third quarter of 2022

According to incomplete statistics from Zero One Think Tank, in the third quarter of 2022, a total of 55 autonomous driving-related companies in the domestic primary market received 61 equity financings, of which 23 disclosed specific financing amounts, corresponding to a total financing amount of approximately 6.33 billion yuan. Horizon Robotics, Moshi Intelligence, Tiandiyige, Tongyu Automotive Technology and Ecarx Technology have all completed two rounds of financing, including Xiantu Intelligent, Qiangua Technology, Tongyu Automotive Technology, TuSimple, Weidu Technology and many other companies have also received new investments.

In terms of the amount, there were 13 financings of 100 million yuan or more, with the highest being WM Motor's $600 million Pre-IPO round of financing. The company recently conducted a road test of its L4 driverless technology in the Shanghai Lingang Driverless Demonstration Zone. The second largest was DeepWay , a company under Baidu and Lionbridge that is targeting the autonomous driving freight track. It received its first round of external financing of 460 million yuan, led by Qiming Venture Partners, with participation from Lenovo Capital, CCB Trust, China Power Investment Fund, and Bocom International.

In terms of rounds, there were 23 early financings in round A and before, accounting for about 37.7%; and 5 financings in round C and after. In terms of track, car manufacturing, technology research and development, chips, millimeter wave radar, unmanned freight (heavy trucks), mining, and wire-controlled chassis have attracted much attention.

Table 1: Financing status of Chinese autonomous driving related companies in Q3 2022 (arranged in descending order by amount)

Data source: Zero One Think Tank