ByteDance has been revealed to be an investor in the Lenovo-backed autonomous driving technology developer.
China-based autonomous driving technology developer QCraft has secured an undisclosed amount of additional funding from digital media group ByteDance, Bloomberg reported yesterday, citing people familiar with the matter.
ByteDance is investing as part of a funding round sized at a minimum of $25m. It will follow a $24m seed round in April 2020 led by IDG Capital and backed by Vision+ Capital and Tide Capital.
Founded in 2019, QCraft has developed autonomous driving technology for use in operating minibuses.
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