Qualcomm and Xiaomi Pour USD 190 Mn into Autonomous Driving Startup Zongmu Technology
Following the investment, the firm is eyeing an IPO on the Science and Technology Board. The round is backed by tech giant Xiaomi, Semiconductor producer Qualcomm, Jadex Capital and Legend Capital etc. The startup is one of Xiaomi's first bets on the automotive arena since the smartphone maker announced a USD 10 billion plan to build electric vehicles. Xiaomi was also one of the investors weighing an investment in Black Sesame Technologies Inc., an AI chip designer for cars in China
Posted Jun 8, 2021, 11:48 AM UTC
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