Chinese Driverless Mining Truck Developer Raises Over 300 Million Yuan in Funding Round

What’s new: Eacon Mining Technology (易控智驾), a Chinese maker of autonomous driving systems for mining trucks, has raised more than 300 million yuan ($41.7 million) in its latest funding round, bringing the total raised in the past six months to more than 700 million yuan, the company said Tuesday.

The latest round was led by existing shareholders Minxi Xinghang State-owned Investment & Operation Co. Ltd. and Zijin Mining Group Co. Ltd. (601899.SH), Eacon Mining said in a press release. The firm plans to use the funds to develop new products and manage its autonomous fleet operations.