Funding round
DeepRoute.ai Series B
DeepRoute.ai, which works in autonomous driving solutions development in Fremont, raised $300M in a Series B round announced on 14 Sep 2021, led by Alibaba Group, at a $1.00B post-money valuation. 6 firms took part, 1 of them already investors. It is DeepRoute.ai's second venture round on record; the one before was a Growth in Oct 2019.
$300M
Amount raised
$1.00B
Post-money valuation
$700M pre-money
6
Investors
1 lead
30%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced DeepRoute.ai at $1.00B after the new money. The $300M bought investors about 30% of the company. It came 23 months after DeepRoute.ai's Growth. It is 67% of the $450M DeepRoute.ai has raised in the venture rounds on record. DeepRoute.ai raised again 38 months later: a Series C round of $100M in Nov 2024, at $600M post-money.
Investors
Who put money in
Alibaba Group led the round with 5 other firms. Alibaba Group had backed DeepRoute.ai before.
Lead investor
- Alibaba Group existing investor
Also in the round
- Jeneration Capital new investor
- backs 11 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- Geely new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,032 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 10 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Sorare Tech Companies | 21 Sep 2021 | $680M | $4.30B | SoftBank |
| Tech Companies | 23 Sep 2021 | $130M | $642M | 9Yards Capital and Tiger Global Management |
| Tech Companies | 15 Sep 2021 | $125M | not disclosed | SoftBank Vision Fund and Sanabil |
| Factorial Tech Companies | 5 Sep 2021 | $80M | $500M | Tiger Global |
| Tech Companies | 14 Sep 2021 | $80M | not disclosed | Insight Partners |
| Tech Companies | 15 Sep 2021 | $65M | not disclosed | Insight Partners |
| Tech Companies | 28 Sep 2021 | $60M | not disclosed | Tiger Global |
| Tech Companies | 15 Sep 2021 | $54M | not disclosed | Tiger Global |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did DeepRoute.ai raise in its Series B round?
DeepRoute.ai raised $300M in its Series B round, announced in Sep 2021.
Who led DeepRoute.ai's Series B round?
Alibaba Group led it, with Jeneration Capital, Fosun RZ Capital, Yunqi Partners, Glory Ventures and Geely.
What was DeepRoute.ai's valuation at the Series B round?
$1.00B post-money ($700M pre-money).
How does it compare with other Series B rounds in Tech Companies?
1,032 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 10 times the median.
Did DeepRoute.ai raise again after this round?
Yes: a Series C round in Nov 2024 of $100M at $600M post-money.