DeepRoute.ai, a Shenzhen-based startup, has raised $100 million from a Chinese automaker to enhance its advanced assisted driving systems, aiming for a fleet of 200,000 cars by the end of 2025, up from 20,000 currently.
CEO Maxwell Zhou stated that the company plans to introduce over 10 models with automaker partners in 2025. The first model featuring the system launched in August, with additional models set for release this year.
The startup's technology can navigate complex urban traffic, similar to Tesla's Full Self-Driving system, which is expected to debut in China soon. The revenue model includes technology licensing fees per vehicle and data collection to improve AI capabilities.
DeepRoute.ai's existing investors include Alibaba, and the latest funding round did not disclose the company's valuation. The competition among automakers in China's market is intensifying, especially with Tesla's entry, prompting faster advancements in autonomous driving technologies.
Zhou noted that China presents unique traffic challenges, which may require adaptations from foreign competitors. The company is also exploring opportunities in Europe, Southeast Asia, and the Middle East, anticipating potential demand for advanced technologies by 2027 and 2028.
Founded in 2019, DeepRoute.ai has developed its autonomous driving system without relying on expensive high-definition maps, allowing it to maintain cost advantages.