China's XHEART Adds Renault and Chery, Nears $700 Million
XHEART completed a strategic round featuring Renault's first-time participation and increased stakes from Chery and CXMT, bringing its total cumulative funding close to $700 million.
China's Suzhou-based XHEART, which designs autonomous driving and robotics chips, has completed a strategic funding round in which Renault joined as a first-time investor, along with increased stakes from Chery Automobile and CXMT, according to Dealroom citing 36Kr.
The size of the round was not disclosed, but Dealroom estimated total cumulative funding at around $687.5 million—nearly $700 million—compared to a 36Kr headline indicating 5 billion yuan.
The company's "X7" chip targets urban driving assistance at level L2++, extending up to L3 and L4 autonomous driving.
Renault's entry reinforces European automakers' interest in Chinese smart driving chips amid a race for automated driving technologies.
What do these terms mean?
Strategic round: A round where investors tie their investment to commercial or technological interests with the company, rather than mere financial returns.
Cumulative funding: The total amount of all funds raised by the company since its founding.
Autonomous driving levels L2, L3, and L4: A scale defining how much control the vehicle takes over driving, from partial assistance to near-full driving under specific conditions.
Urban driving: The vehicle's ability to operate inside crowded city streets, not just on highways.
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