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Chinese autonomous truck start-up raises $37m

Chinese autonomous driving start-up, JingChi, has raised $37 million, and is reportedly in the process of closing a series A round of $124m, according to professional data company, China Money Network.

JingChi was founded by former Baidu Head – Autonomous Driving Unit, Wang Jing.

The company has not disclosed the identity of its investors in the round however Jing reportedly said in March that JingChi had received investment from Aplus Capital, the founder of New Oriental Education & Technology Group.

Headquartered in Silicon Valley, JingChi reportedly specialises in the development of autonomous vehicles. It completed a test drive in California in June, following other Chinese tech firms including Baidu and TuSimple.

During Jing’s tenure at Baidu from 2010 to April 2017, he was responsible for overseeing big data, cloud computing, Baidu Brain, autonomous cars and voice recognition technology research and development. He set up research centres in the US and Shenzhen, as well as assisting the company’s research arm, Baidu Research.

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