An investment consortium led a $100m Series A funding round in Freetech.

An investment consortium led a $100m Series A funding round in Freetech, an autonomous driving startup. The consortium includes China Internet Investment Fund, Huiyou Capital and Dongfeng Bank of Communications. “Autonomous driving is a scenario-based application, and OEMs require suppliers to not only have leading software, hardware, and algorithm technology, but also excellent mass production capabilities. We believe that Freetech, unlike many local suppliers, can fully meet the requirements of local OEMs for autonomous driving,” Yang Longzhong, Huiyou Capital Founder.