Funding round
DeepRoute.ai Growth
Reported as "Growth Equity"
DeepRoute.ai, which works in autonomous driving solutions development in Fremont, raised $50M in a Growth round announced on 7 Oct 2019, led by Fosun RZ Capital. 5 firms took part. It is DeepRoute.ai's first venture round on record.
$50M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
DeepRoute.ai did not disclose a valuation in this round. It is DeepRoute.ai's first venture round on record, in the year it was founded (2019). It is 11% of the $450M DeepRoute.ai has raised in the venture rounds on record. DeepRoute.ai raised again 23 months later: a Series B round of $300M in Sep 2021, at $1.00B post-money.
Investors
Who put money in
Fosun RZ Capital led the round with 4 other firms.
Lead investor
- backs 11 venture-backed companies new investor
Also in the round
- backs 3 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
234 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Oct 2019 | $145M | $300M | Insight Partners |
| Tech Companies | 17 Oct 2019 | $56M | not disclosed | Upfront Ventures and H.I.G. Growth Partners |
| Tech Companies | 1 Oct 2019 | $49M | not disclosed | not named |
| Tech Companies | 30 Oct 2019 | $47M | not disclosed | SoftBank |
| Tech Companies | 29 Oct 2019 | $40M | not disclosed | ST Telemedia |
| Tech Companies | 28 Oct 2019 | $40M | not disclosed | Corsair |
| Tech Companies | 22 Oct 2019 | $31M | not disclosed | Mosaik Partners |
| Tech Companies | 8 Oct 2019 | $17M | not disclosed | 83North |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did DeepRoute.ai raise in its Growth round?
DeepRoute.ai raised $50M in its Growth round, announced in Oct 2019.
Who led DeepRoute.ai's Growth round?
Fosun RZ Capital led it, with GSR Capital, Yunqi Partners, Ventech China and Songhe Capital.
What was DeepRoute.ai's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
234 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.3 times the median.
Did DeepRoute.ai raise again after this round?
Yes: a Series B round in Sep 2021 of $300M at $1.00B post-money.