ZongMu Technology raises $14.5 million for driver assistance…

ZongMu Technology raises $14.5 million for driver assistance products | VentureBeat

ZongMu has secured a $14.5M  follow-on series C investment led by Qualcomm Ventures, with participation from Lenovo Group’s Legend Capital and Chuangtu Investment.

The company raised $14.5M series B in February 2017 for a total  raised to $30M at a valuation of $146M million. 

Solutions in its growing portfolio address lane departure and blind spot detection, in addition to things like door open warnings.

One of its flagship products is SurroundView, a camera system that stitches together four feeds from fisheye lens-equipped sensors and corrects for distortion and warped perspective, displaying the finished video on an in-vehicle screen. 

ZongMu’s forthcoming automated valet parking, which is expected to launch in the second half of 2020, will enable drivers to leave their cars in designated drop-off areas and summon them with their smartphones, much like Tesla’s Enhanced Summon.

ZongMu has several long-term strategic partnerships with OEMs and Tier 1 suppliers including Geely Automobile Holdings, SAIC Motor, and Yema Auto.

A demo wit Qualcomm in 2017 used a proprietary ZongMu AI model that output multi-class object detection and road semantic segmentation simultaneously

ZongMu’s revenue to about $6M in 2016. No figures available for the latest revenues.

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