Qianhang Technology completed 200 million yuan Pre-A round of financing

On June 8, Autra.tech, an autonomous driving trunk logistics company, announced that the company has completed the Pre-A round of financing in April 2022. This round of financing is 200 million yuan. The new investor is Cathay. Fund, Xianghe Capital, BAI Capital and other leading investment institutions.

Previously, Qianhang Technology had completed two angel round deliveries in October and December 2021, led by IDG Capital and SF Holding, followed by Xpeng Motors/Xinghang Capital, and BV Baidu Ventures, totaling a total of 191.5 million yuan.

According to the data, Qianhang Technology was established in July 2021. It is a technology company focusing on L4 truck autonomous driving technology and commercialization. It is committed to using autonomous driving technology to provide more cost-effective trunk logistics capacity.The company consists of Tao Ji, former general manager of Baidu's autonomous driving division and general manager of intelligent transportation product research and development, Sun Haowen, former founder of Pony.ai Truck Team, former chairman of Baidu Group Technical Committee, former VP of AutoNavi Group, and former CTO of Meicai.com Liao Ruoxue, Co-founded with Ding Fei, the former head of IDG Capital's technology and travel investment.

It is understood that China currently has 14 million freight trucks, which is a trillion-level track. At the same time, this industry may face severe labor shortages in the future. There is a very large room for development of autonomous driving, and its commercial potential is gradually being released.CICC believes that the economy of self-driving trucks is significantly better than that of traditional fuel heavy-duty trucks, which are mainly reflected in three aspects: one is to increase the running time of the truck, the second is to reduce the cost of drivers, and the third is to improve fuel economy.According to its calculations, self-driving trucks can eventually reduce costs by 45%.

Facing the huge market space, Qianjiao Technology CEO Tao Ji said, "Qianjiao Technology is based in China, focusing on trunk logistics, cutting in with leading autonomous driving technology, aiming at mass production and large-scale operation, and strives to achieve technological progress through technological progress. Promote the productivity upgrade of the trunk logistics industry, fill the labor shortage, and help the high-quality development of China's economy."