(Yicai) Oct. 29 -- Autonomous driving solutions provider QCraft has secured hundreds of millions of Chinese yuan, equal to tens of millions of US dollars, in its latest financing round.

The Series C+ fundraiser was led by Chinese investment fund Zhulu Juhang Fund, QCraft announced on its official WeChat account yesterday.

The proceeds will be used to enhance the research and development of full-stack self-driving technologies, promote the mass production and delivery of its mid-to-high-end navigation on autopilot solution Driven-by-QCraft, and gradually upgrade its Level-2++ autonomous driving techs to Level-4, QCraft noted.

This financing round shows the recognition of QCraft’s technological innovation and mass production achievements and validates its technological roadmap and business model in advancing from L2++ to L4 autonomous driving, according to the company’s co-founder and Chief Executive Officer Yu Qian.

QCraft possesses both commercial capabilities and experience in large-scale production, a partner at Zhulu Juhang Fund said, adding that they look forward to QCraft seizing a leading position in both the Chinese and international markets.

Established in Silicon Valley in 2019, Qcraft has several offices in China, including Beijing, Shenzhen, and Suzhou. Its core team members are from leading self-driving firms, including Waymo, Tesla, Uber Advanced Technologies Group, Nvidia, and Google.

Driven-by-QCraft, which focuses on complex urban traffic scenarios, has already been installed on over 400,000 vehicles, successfully running for hundreds of millions of kilometers. It has seized a nearly 51 percent stake of the Chinese market for NOA solutions for passenger vehicles.

QCraft also developed the Dragon Boat series of autonomous vehicles, which are used for urban public transportation and ride-hailing services.

Editor: Futura Costaglione