By Greg Gao

(JW Insights) Jul 19 -- HoloMatic(禾多科技), an autonomous driving startup, completed the C3 round of financing of RMB300 million($41.6 million), the company announced on July 18.

This round of fundings was led by Guangdong Technology Financial Group and GAC Capital, the VC arm of one of the largest China local OEM GAC. The proceeds will be used to further advance HoloMatic’s cutting-edge research and development in autonomous driving technology and accelerate the mass production and implementation of autonomous driving solutions.

With this funding, HoloMatic’s total capital raised in Series C rounds exceeds RMB 1 billion ($138 million). 

Founded in 2017 and based in Beijing, HoloMatic is an innovative autonomous driving company that has set its goal to achieve high-level autonomous driving in a progressive manner since its inception. With over six years of development, the company now possesses comprehensive capabilities in R&D, offering complete autonomous driving solutions to automobile manufacturers, including “domain controller hardware + underlying basic software + upper-layer application software.”

Since last year, HoloMatic’s intelligent driving solutions have been gradually integrated into various GAC Trumpchi and GAC AION models.

In 2021, HoloMatic reached a deep cooperation with GAC Group and received exclusive Series C1 funding from GAC Capital. The two sides are integrating advantageous resources and cooperating to implement the industrialization of smart vehicles. 

In the latest Series C3 round, GAC continued to provide support, bringing the total investment to nearly RMB400 million (around $55 million). HoloMatic has become the only independent autonomous driving company in China to form comprehensive cooperation with a top-tier OEM, according to the company.