Meituan's Longzhu Capital vehicle contributed to a round for the driverless vehicle technology developer that followed an investment by ByteDance five months ago.

China-based autonomous driving technology developer QCraft has raised $100m in a series A-plus round that included Longzhu Capital, the venture capital arm of e-commerce and local services platform Meituan.

The round was led by private equity firm Yunfeng Capital and also featured Genesis Capital, IDG Capital and an undisclosed pension fund.

Founded in 2019, QCraft develops autonomous driving software designed to navigate complex urban environments, using intelligent simulation systems and a self-learning framework.

While it is not unique in that…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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