Chinese level four (L4) full-stack self-driving solution provider DeepRoute has secured approximately $50m in funding from investment organisations.

The new round of financing was led by Beijing-based venture capital investment company Foshun RZ Capital.

GoldenSand Capital, Yunqi Partners, Ventech China and Green Pine Capital Partners also participated in the funding round.

According to the company, the funding from investors shows that ‘DeepRoute has accomplished its commercialisation’.

DeepRoute is focused on researching and developing L4 self-driving technologies for passenger vehicles.

It develops technologies covering sensing, HD map and positioning, planning and control, hardware system, infrastructure, simulator, Cloud computing and storage.

The company cooperates with major original equipment manufacturers, Tier-1 suppliers and other companies to provide services such as full-stack self-driving systems, vehicle platooning technology, self-driving robo-taxis and autonomous driving operation fleets.

With a technology team comprising of graduates and PhD graduates from international universities, the company operates research centres in Shenzhen, Beijing, China, and Silicon Valley, California, US.

DeepRoute is currently involved in the further research and development of sensors, with an aim to accelerate mass production of its products.

In a statement, Fosun RZ Capital chairman Jin Hualong said: “Fosun RZ Capital has started to track the development of the self-driving industrial chain, including self-driving solutions and core components since 2016.

“Autonomous driving, as a key industry largely supported by the Chinese government, bears a great market potential.”