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Roadstar.ai, an artificial intelligence startup specializing in autonomous driving technology, announced it had finished a new round of financing of $128 million, the largest yet in the unmanned driving industry.
The new round of fundraising followed an angel investment of $10 million from well-known venture capital organizations such as Yunqi Partners, Green Pine Capital Partners, Ventech China and other firms after the company was established in May 2017.
Roadstar.ai, based in Shenzhen of Guangdong province, was founded by three engineers who had previously led autonomous driving technology departments at Google, Tesla, Apple, Nvidia and Baidu.
The company has established research and development centers in both Silicon Valley in the United States and Shenzhen, covering the whole R&D chain in developing autonomous driving technologies.
"By providing efficient autonomous driving solutions to future advanced transportation systems using unique and robust multi-sensor fusion frameworks, we devote ourselves to creating an intelligent autonomous driving system for a safer and more enjoyable travel experience," said Tong Xianqiao, chief executive officer of Roadstar.ai.
The company has developed two key technologies — HeteroSync and DeepFusion. Integrating with multiple sensors, HeteroSync provides highly accurate time and spatial synchronization, real-time updates and robust features extracted from the fused high-dimensional raw data.
Using the advantages from fused high-dimensional sensor data, DeepFusion produces a robust, efficient and safe autonomous driving solution.
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