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.