Chinese autonomous driving supplier HoloMatic recently completed a Series C funding round, raising 300 million yuan ($42 million). The fundraising was led by the state-owned Technology Financial Group in Guangdong province and Chinese OEM Guangdong Automotive Group (GAC). Founded in June 2017, HoloMatic offers intelligent driver assistance and parking solutions and provides automakers with self-developed domain controllers. Following the financing, GAC, which has invested in HoloMatic multiple times, now holds approximately 13% of the company’s shares, making it the largest external shareholder. HoloMatic’s founder, Ni Kai, previously served as a senior scientist at Baidu Research and was a key technology leader in the tech giant’s autonomous driving business. By the end of this year, the number of mass-produced vehicles equipped with HoloMatic’s driver assistance solutions will reach tens of thousands, according to Ni. He believes that 200,000 units is the prerequisite for the company to achieve profitability and consider an IPO. [LatePost, in Chinese]