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Zongmu Technology Raises $14.5M For Driver Assistance Products

by venturebeat.com posted 2weeks ago 16 views
Shanghai-based autonomous vehicle solutions startup ZongMu Technology raised $14.5 million in a follow-on round led by Qualcomm Ventures. : It’s anticipated that the autonomous vehicles market will reach $667.77 billion by 2026, and according to marketing firm ABI, as many as 8 million driverless cars will be added to the road in 2025. Startups like ZongMu Technology are taking full advantage of the influx of venture capital, unsurprisingly. The Shanghai-based company today revealed that it has secured a $14.5 million follow-on series C investment led by Qualcomm Ventures, with participation from Lenovo Group’s Legend Capital and Chuangtu Investment.