AIDriving

Aug 14, 2020

August 14, 2020 Chinese intelligent human resource management solutions developer Moka and AI-enabled intelligent driving firm AIDriving have each raised about 100 million yuan ($14 million) to expand operations. HR-tech startup Moka nets $14m in Series B+ round Moka, a developer of intelligent human resource management solutions, has secured over 100 million yuan ($14 million) in a Series B+ round, taking its total Series B fundraising to over 300 million yuan ($43 million). Proceeds from the deal will be used for talent recruitment, product innovations, and business expansion, it said in a WeChat post on August 13. The startup did not disclose the investors in the latest round. The company was founded in September 2015 by Li Guoxing, a Stanford Unversity alumnus and former Facebook employee, and Zhao Oulun, who worked at the San Francisco-based car-sharing service Turo. After the latest funding round, Li will take over as the company’s new CEO to lead the overall product development work and business operations. He replaces existing CEO Zhao, according to TechCrunch. Beijing-based Moka is a provider of software-as-a-service (SaaS) intelligent recruitment management solutions. Its offerings enable enterprises to realise the centralised management of their recruitment processes, storage and operation of talent information, as well as recruitment data analysis. Moka has served over 700 paying corporate clients, such as McDonald’s China, smartphone maker Xiaomi, internet security giant Qihoo 360, ride-hailing giant Didi Chuxing, Hong Kong-based health and beauty store chain Watsons, and Arm China, the Chinese subsidiary of SoftBank-owned chip giant Arm. Its team of over 300 staff operates across five offices in China. The startup closed 180 million yuan ($26 million) in a Series B round led by Asia-focused private equity major Hillhouse Capital in March 2019. Global venture capital firm GGV Capital, China-focused investment firm GSR Ventures, and Beijing-based Xiang He Capital, which invests in early- and growth-stage companies in the technology, media, and telecommunications (TMT) industry, had also participated in that round. It also completed three deals, including an angel round, a Series A round and a Series A+ round backed by investors including GGV Capital, GSR Ventures, and China’s FreeS Fund between 2015 and 2018. SBI China invests $14m in intelligent driving firm AIDriving AIDriving, which develops AI-enabled intelligent driving solutions and services, has raised 100 million yuan ($14 million) in a Series C round of financing from SBI China, the Shanghai affiliate of Tokyo-based SBI Holdings. Also known by its Chinese name “Zhongtian Anchi,” AIDriving leverages a suite of technologies like machine vision, deep learning, 5G, high-precision positioning, and temperature sensing to develop Artificial Intelligence of Things (AIoT)-based driving solutions and services. The Shenzhen-based company serves commercial vehicle fleets, automakers, government departments, as well as companies in the finance and insurance areas. Its solutions have been adopted by more than 300,000 vehicles across 32 provinces and cities in China to date, according to a statement on August 13. Proceeds of the new round will be used for the R&D of technologies like advanced driver-assistance systems (ADAS) and driver status monitor (DSM), as well as AIoT products and software. AIDriving also plans to explore potential applications of its solutions and services to commercial vehicles. The Series C round is the fourth investment completed by AIDriving since its inception in 2013. Earlier this year, the company secured tens of millions of yuan in a Series B round from investors including China-based Yunqi Partners. The firm had also closed 100 million yuan ($14 million) in a Series A+ round in September 2018.