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Hong Kong-based AutoX raised $100m in Series A financing.

Financials

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Transaction Value£79m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Hong Kong

Auto Technology

Pending

autonomous vehicles

Private

Venture Capital

Acquisition

Friendly

Single Bidder

Private Equity

Synopsis

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Hong Kong-based AutoX, an industry leader in the self-driving car technology industry, raised $100m in Series A financing. State-owned Dongfeng Motor, one of China’s largest automakers, led the round, while a fund under Alibaba and Silicon Valley-based incubator Plug and Play’s China fund both joined. New funds will be used to build its autonomous driving fleet and to add new members to its technical team. AutoX said it plans to apply its autonomous driving solutions to the logistics sector since it has joined Alibaba’s ecosystem. Also, the company will enter Southeast Asian markets now that it has investors from the region.

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