Chinese Capital Backing Self-Driving Tech Companies
Posted on 10/27/2019
Fosun RZ Capital (formerly known as Fosun Kinzon Capital), part of the Fosun Group, was founded in 2013 and headquartered in Beijing. Fosun RZ Capital led a pre-Series A round into DeepRoute, a self-driving vehicle startup with offices in China and California. The investment round was US$ 50 million. Other investors in the round include GoldenSand Capital (also known as GSR Capital), Shanghai-based Yunqi Partners, Ventech China, and Green Pine Capital Partners.
Sina Corporation led a US$ 120 million Series D round into Tucson, Arizona-based TuSimple, a self-driving truck developer. Other investors in this round include Seoul-based Mando Corporation, Lavender Capital, and CDH Investments.