Following six successful months of testing the Theia AI prototype software with in-house autonomous vehicles, Autotech Co Hong Kong Limited has now received USD 35 million in extra funding.
At the end of last year, Autotech Co Hong Kong Limited set themselves the challenge to begin testing their Theia AI prototype software with their in-house fleet of cars. The team of testers aimed to drive the company’s autonomous vehicles uninterrupted over multiple different routes. Initial testing began on their self-built driving track and then moved onto more complex driving environments, including city streets with pedestrians, road obstacles, real-time traffic lights and more, finally finishing with busier highway roads.
The in-house testing proved a success and the Autotech Co Hong Kong Limited investor relations team began seeking further funding for company expansion. They are also in talks to collaborate with renowned automakers across Asia for even further company growth and recognition.
Through their previous funding partnerships, Autotech Co Hong Kong Limited have now secured a further USD 35 million in capital for their expansion plans.
The expansion plans will include further research and development for the core Theia AI product, future research into AI technology with the view to build their own AV sensors and AI-chip, team expansion and more.
“I am delighted with the extra capital we have received through our existing fund partnerships and look forward to further expansion on my team, our core Theia AI product and future artificial intelligence products that will assist with autonomous vehicles.” Quoted Mr. Cheng Jun, Chief Executive Officer of Autotech Co Hong Kong Limited in a recent report.
Autotech Co Hong Kong Limited have joined the autonomous vehicle revolution and wholeheartedly believe they will become a dominant leader in the AV industry across China and Asia regions by making autonomous driving a reality and creating a safer and greener world for our future generations.