About RITS
RITS is a Transportation, Automotive & Logistics company based in Beijing (China) founded in 2020. RITS has raised $13.89 million across 1 funding round from investors including ZVCA, CITIC Group and KoalaFund. Its focus areas include Auto Tech, Autonomous Vehicles, Self Driving Technology and Trucks. Its competitors include PlusAI, TuSimple, Gatik, Einride and Kodiak Robotics and 4 more; 9 of its 9 listed competitors have raised funding.
Company details
Self-driving solutions for vehicles. The platform offers features like blind spot detection system, fatigue driving warning system, lane departure warning system, and more.
- Headquarters Beijing, China
- SectorsTransportation, Automotive & Logistics
- Email••••••••
- Phone•••• ••••
- Website racoits.com
- Total Equity Funding$13.89M (USD)
in 1 rounds
- Latest Funding Round$13.89M (USD), Series A
Mar 2024
- InvestorsZVCA
& 2 more
Funding Insights of RITS
RITS has successfully raised a total of $13.89M through 1 strategic funding round. The most recent funding activity was a Series A round of $13.89 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $13.89M
- Total Rounds 1
- Last Round Series A — $13.89M
- First Round $13.89M
(Mar 2024)
- Investors Count 3
All 1 funding rounds of RITS with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2024 | $13.89M | Series A | – | CITIC Group |
3 investors in total: 3 institutional.
Investors in RITS
RITS has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include ZVCA, CITIC Group and KoalaFund.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
- | – | group.citic | - | |
- | – | zvca.org | - | |
Manages diversified investment portfolios across various asset classes. | 2015 | koalafund.lu | Luxembourg, Luxembourg |
Investor details for RITS
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Timeline of RITS
2 dated milestones of RITS across 4 years, from founding to its latest funding, stage changes and deals.
- Founded RITS is founded.
- Funding First funding round of $13.9M.
Competitors of RITS
RITS has 9 listed competitors in our database, 9 of them funded. They include PlusAI, TuSimple, Gatik, Einride and Kodiak Robotics, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| plus.ai | 2016 | San Francisco, United States | $720M | 146 | Self-driving technology for commercial trucks is developed by PlusAI. | |
| tusimple.com | 2015 | San Diego, United States | $648M | 1,058 | Self-driving truck solutions are developed using AI technology. | |
| gatik.ai | 2011 | San Francisco, United States | $151.6M | – | AI-enabled platform offering self-driving delivery trucks and delivery management system | |
| einride.tech | 2016 | Stockholm, Sweden | $865.3M | – | Autonomous electric trucks are manufactured for freight and emissions management. | |
| kodiak.ai | 2018 | Palo Alto, United States | $165M | – | Autonomous trucks are developed for long-haul freight transport. | |
| waabi.ai | 2021 | Toronto, Canada | $283.5M | – | Autonomous driving solutions for trucks are developed by Waabi. | |
| deepway.com | 2002 | Beijing, China | $282.01M | – | Autonomous trucks are developed for freight transportation management. | |
| inceptio.ai | 2018 | Fremont, United States | $678M | – | Autonomous driving technology for trucks is developed and provided. | |
| cidi.ai | 2017 | Changsha, China | $121.48M | – | Self-driving technology for commercial vehicles is developed and provided. |
Detailed competitors of RITS
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Top companies in Autonomous Vehicles
10 companies that operate in the same segment as RITS (Autonomous Vehicles), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
AI-based system-on-chips are developed for advanced driver assistance systems. | 1999 | Jerusalem, Jerusalem District, Israel | USD 530 M | USD 1.89 B | 3,820 | |
AI and SaaS-based self-driving solutions for autonomous vehicles are provided. | 2017 | Mountain View, California, United States | USD 692.62 M | USD 3 M | 2,619 | |
Developer of LiDAR-based sensors | 2002 | San Francisco, California, United States | USD 129 M | USD 169.38 M | 192 | |
SaaS-enabled hardware and software for autonomous vehicles are developed. | 2013 | San Francisco, California, United States | USD 7.72 B | – | 3,326 | |
Autonomous driving and ADAS solutions are developed for vehicles. | 1990 | Pune, Maharashtra, India | – | USD 687.99 M | 10,470 | |
AI-enabled autonomous vehicles are developed for local goods deliveries. | 2016 | Menlo Park, California, United States | USD 2.34 B | – | 1,152 | |
Indra is recognized as a global leader in transportation, air traffic, and defense solutions. | 1992 | Madrid, Madrid, Spain | USD 279.03 M | USD 6.42 B | 60,910 | |
Self-driving vehicle solutions are developed and deployed for transportation. | 2009 | Mountain View, California, United States | USD 27.1 B | – | – | |
Developer of solid-state LiDAR sensors and perception software for autonomous vehicles | 2016 | Rosh Haayin, Central District, Israel | USD 252 M | USD 55.09 M | 415 | |
AI-enabled self-driving solutions are developed for autonomous vehicles. | 2016 | Fremont, California, United States | USD 1.19 B | USD 75.06 M | 515 |
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Frequently Asked Questions about RITS
RITS was founded in 2020 and raised its 1st funding round 4 years after it was founded.
RITS is headquartered in Beijing, China.
RITS is a funded company, having raised a total of $13.89M across 1 funding round to date. The company's 1st funding round was a Series A of $13.89M, raised on Mar 2024.
Self-driving solutions for vehicles. The platform offers features like blind spot detection system, fatigue driving warning system, lane departure warning system, and more.
RITS has 3 investors. Key investors include ZVCA, CITIC Group, and KoalaFund.