Autonomous driving startup, UISEE Technology, announced last February 26, 2020, the completion of a new round of financing with Bosch Venture Capital an important investor. The investment in UISEE is projected to further enrich Bosch’s investment portfolio in the field of autonomous driving and open up more opportunities for cooperation. Through a series of strategic investment and cooperation moves like this, Bosch has further strengthened its know-how and capabilities in the field of autonomous driving.
UISEE’s R & D has resulted in autonomous driving solutions include AI algorithms, intelligent driving controllers, and intelligent driving simulation systems. Its U-Drive intelligent platform has resulted in different applications such as individual travel, micro-bus/driverless minibus, and unmanned logistics for airports and factories. For the latter application, the company’s unmanned logistics vehicle provide passengers in the Hong Kong International Airport with luggage transportation services, the first of its kind in the world.
Data from the United Market Research Corporation reveal that the global self-driving car market size is some US$54 billion (379.2 billion yuan) last year and is expected to grow by 39.47% in the next five years. For UISEE Technology, mass production is the key to fuel the growth of the autonomous driving industry and its cooperation with Bosch will help the company with its product and services upgrades as well as increase mass production capacity.
On the part of Bosch, the century-old company has already invested in other autonomous driving efforts including lidar and high-precision maps. It currently has a joint project with Daimler, the launch of an L4 Robotaxi pilot project in the US. Plans are afoot for the launch of the company’s L3 autonomous driving some time between this year to next year.
The Chinese autonomous driving startup UISEE introduced itself from its official website like this:
UISEE focuses on creating future-oriented mobility and logistics solutions with AI driving, reshaping the way we live by enabling utility, inclusive, safe experiences and efficient, eco-friendly city life style.
UISEE has its headquarter and L4 R&D base in Beijing, L3 and cloud R&D center in Shanghai, testing and innovation center in Jiashan, AI research center in Nanjing, and offices in Shenzhen, Liuzhou and Chengdu, with 300+ scientists and engineers, full-stack R%D hierarchy, and a complete intellectual property layout.