Tsinghua-founded autonomous driving software company Idriverplus has secured Hopu-Arm Innovation Fund for its series C1 round.
Idriverplus, a China-based autonomous car software spinout of Tsinghua University, has obtained an eight-figure dollar series C1 sum from investors led by Hopu-Arm Innovation Fund, a venture fund backed by chip developer Arm.
Founded in 2015, Idriverplus is developing a software platform to be installed within self-driving vehicles in order to control their autonomous functionality. The company builds software for passenger cars but also commercial vehicles in settings such as environmental sanitation, logistics and industrial parks.
The test mileage of Idriveplus’s main product is said to have reached millions of kilometres, and the company now aims to enter new verticals including security, military and retail. In the passenger car segment, Idriverplus expects to achieve mass production of cars at L3-grade autonomy in 2022-23.
The spinout will spend part of the series C1 proceeds to progress its commercialisation plans in partnership with automotive original equipment makers.
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