(Yicai Global) Dec. 22 -- Chinese autonomous driving startup Haomo.AI has secured almost CNY1 billion (USD150 million) in its Series A funding round.

GL Ventures, Meituan, Shoucheng Holdings Limited, Qualcomm Ventures, and JZ Capital took part the fundraiser, Beijing-based Haomo.AI said in a statement today. The proceeds will be used for research and development as well as recruitment, it added.

Founded in 2015, Haomo.AI mainly provides Level 2 self-driving systems. It also produces unmanned Level 4 autonomous logistics vehicles in cooperation with Meituan, on-demand grocery deliverer Dmall, and Alibaba DAMO Academy.

“By the end of 2022, Haomo.AI expects to make its in-house developed Level 2 autonomous driving system available in 34 vehicle models, up from the current five,” Chief Executive Gu Weihao said. Haomo.AI expects the system to power more than 1 million passenger vehicles in the next three years, he added.

Great Wall Motor models Wey Mocha, Tank 300, Wey Latte, Wey Macchiato, and Haval are equipped with Haomo.AI’s Navigation on HPilot system, or NOH. So far, NOH has assisted users to drive over four million kilometers, mainly on highways, with features such as automatic lane changing.

Haomo.AI’s self-driving logistics vehicles deliver groceries to residents in the district of Shunyi in Beijing for Dmall and e-commerce parcels to universities in Wuhan and Hangzhou for Alibaba.

Twenty percent of new passenger vehicles in China have L2 driving capabilities, according to data disclosed by Chinese Industry Minister Xiao Yaqing at the World Intelligent Connected Vehicles Conference 2021 held in Beijing in September.

Editor: Futura Costaglione