Cosco Shipping Development was among the investors in a round set to boost the self-driving technology developer’s research and development activities.

China-based autonomous driving technology developer Zongmu Technology has secured over RMB1bn ($157m) in a series E round featuring a fund backed by shipping firm Cosco Shipping Development, Bloomberg reported yesterday. Donyang State-Owned Assets Investment and Zhejiang Caitong Capital Investments co-led the round, which included Sunic Capital, Zuoyo Capital and China Cinda Asset Management. Founded in…

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