Robert Bosch Venture Capital invests in AutoAI Ground breaking Internet of Vehicle Company in China
Robert Bosch Venture Capital joins Tencent, Didi, Nio Capital and AdvanTech investing in NavInfo’s AutoAI.
RBVC Managing Director Dr. Ingo Ramesohl: “AutoAI with its strong partners in the mobile and automotive industry is well equipped to play a significant role in the rapidly growing Chinese Internet of Vehicle market.”
Bosch’s global leadership in automotive technology is adding strategic value to the investment.
Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, is participating in AutoAI’s USD 104m Series A. AutoAI strives to provide integrated Internet of Vehicle (IOV) solutions, based on big data and its smart cloud platform. “Bosch is a global leader in automotive electronics. Its strategic investment will help AutoAI’s competitiveness and its ability to provide professional IOV services to OEMs” says AutoAI CEO Jing Muhan.
A Complete Suite of Solutions for the IOV
AutoAI’s platform for the connected vehicle aims to bring the rich content and personalized services offered by the internet to the car. The platform includes in-vehicle components, like a telematics box and a vehicle optimized Android operating system, as well as data collection, storage and analysis solutions in the cloud. It further enables service and content provisioning. Automotive OEMs and content service providers can monitor the performance of the vehicle and deliver real time services and content to the consumer in the car. These include personalized entertainment, weather and traffic information, parking, fueling, insurance and other services. Smart navigation, for example, will allow the driver to see where his friends are and propose a nearby restaurant, tailored to the driver’s preferences and current location. The company further offers an aftermarket product that gives drivers access to all content and applications on their smartphone through the telematics screen in a driver-friendly way.
Market and Momentum
The IOV market for connected services in China is developing a strong momentum and is expected to grow from 0.6 billion US dollar in 2017 to 39.5 billion US dollar in 2030 (source: PwC). It has the potential to unlock values and possibilities for both OEMs and consumers alike. AutoAI’s long-standing experience in serving both these groups positions them uniquely in this new market opportunity.
World-Class Team and Investors
AutoAI’s founders are Chinese pioneers in navigation mapping. Its management team consists of entrepreneurs and industry veterans in all aspects of its technology and business with successful track records. Among its shareholders and investors are Navinfo, MediaTek, Tencent, Didi and Nio Capital. “Connected car services are a vital pillar for the future of mobility. AutoAI with its strong partners in the mobile and automotive industry is well equipped to play a significant role in the rapidly growing Chinese Internet of Vehicle market”, says RBVC Managing Director Dr. Ingo Ramesohl. Along with RBVC, the shareholders will provide strong support to the first class team in its endeavor to simplify the smartening of vehicles.
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About RBVC GmbH Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models that are relevant to the above-mentioned areas of business. Additional information is available at www.rbvc.com.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,000 associates worldwide (as of December 31, 2017). The company generated sales of 78.1 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs some 64,500 associates in research and development.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.
AUTOAI Co., Ltd., founded in April 2018, is the developer and operator of intelligent connected vehicle service (CVS) for the new generation of autonomous vehicles. AUTOAI is established as a separately run subsidiary of Navinfo Co., Ltd. (stock code: 002405) and is invested by world-class internet enterprises and prominent investors. AUTOAI has gathered leaders and outstanding talents from various sectors of the industry to provide technological development, product development and service operations of intelligent navigation, CVS content, intelligent OS and solutions, CVS big data and operations.
Based on the core mission of “Making Auto Intelligence Easier”, AUTOAI has set up bases for front-end R&D and operations with a total of nearly 1,000 employees in Beijing, Shanghai, Shenzhen, Dalian and Shenyang. By taking advantage of the professional team and the strategic resources from investors, and adhering to the development ideology of “concentrating resources, build on advantages, open cooperation and collaboratively sharing the economy”, AUTOAI will work jointly with automobile manufacturers, industry customers and ecosystem partners in the development of the next generation of autonomous driving, bring further cutting-edge technologies, leading products, ultimate experience and compassionate service to more partners, and aim to become an innovator and leader in the intelligent CVS industry.
Weitere Informationen: https://www.bosch-presse.de
Bild: AutoAI CEO Jing Muhan during NavInfo’s User Group conference, Quelle: https://www.bosch-presse.de