Recently, Corage, a commercial vehicle autonomous driving company, announced that it has got investment from Ventech China RMB fund and Sumitomo Corporation Equity Asia Limited, a strategic investment institution of Sumitomo Corporation. 

Currently, Corage is the only L4 autonomous driving company in the industry that focuses on dedicated freight lines, and clearly implements the strategy of New Energy. It has launched L4 new energy commercial vehicles with dedicated freight lines in Guangdong, Chongqing and other places project operation. The investment will be used to further promote Corage's technology R&D and business expansion of L4 new energy commercial vehicles in the field of logistics.

Ventech China is also one of the investment institutions of Roadstar.ai, an early-stage self-driving startup in China founded by Tong Xianqiao, Founder and CEO of Corage. As an angel round investor, we have worked closely with Mr. Tong Xianqiao, as an entrepreneur with a technical background, left a deep impression on us with his unique insights into the technology integration industry and market trends. We are also optimistic that the support of domestic and overseas institutions will give the company more opportunities to penetrate the Chinese and overseas markets.

Mr. Tong Xianqiao, Founder and CEO of Corage, said: "The the resource support from Ventech and strategic investment from SCEA give us the opportunity to penetrate into a broader and diversified logistics scene in China and overseas market. The New Energy strategy will make the technological innovation and commercial implementation of commercial vehicle autonomous driving faster and more stable. The recognition and support of investment institutions and business partners will give us more confidence to continue to bravely develop and lead the realization of technology, economy and society. "

James Jin, the Managing Partner of Ventech China, said: "We have always believed that products and services that are driven by technology and surpass innovation can create real barriers to competition and a moat to establish a business model. Corage's accumulation and experience in the field of commercial vehicle autonomous driving gives us reason to expect that it will play a leading role in the process of China's autonomous driving in the trunk line logistics market. In this process, Ventech will make full use of its strong industrial background and abundant resources to maximize the capital and industry The synergy effect will provide assistance to the development of China's commercial vehicle autonomous driving represented by Corage."