About RITS
RITS is a 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. RITS operates in a competitive market with competitors including PlusAI, TuSimple, Gatik, Einride and Kodiak Robotics, among others.
- Headquarter Beijing, China
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$13.89 M (USD)
in 1 rounds
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Latest Funding Round
$13.89 M (USD), Series A
Mar 07, 2024
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Investors
ZVCA
& 2 more
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Employee Count
Employee Count
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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 Total Funding
- Total Rounds 1
- Last Round Series A — $13.9M
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First Round
First Round
(07 Mar 2024)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series A - RITS | Valuation | CITIC Group |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Manages diversified investment portfolios across various asset classes.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by RITS
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - RITS
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Rits Comparisons
Competitors of RITS
RITS operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PlusAI, TuSimple, Gatik, Einride and Kodiak Robotics, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Self-driving technology for commercial trucks is developed by PlusAI.
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| domain | founded_year | HQ Location |
Self-driving truck solutions are developed using AI technology.
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| domain | founded_year | HQ Location |
AI-enabled platform offering self-driving delivery trucks and delivery management system
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| domain | founded_year | HQ Location |
Autonomous electric trucks are manufactured for freight and emissions management.
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| domain | founded_year | HQ Location |
Autonomous trucks are developed for long-haul freight transport.
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| domain | founded_year | HQ Location |
Autonomous driving solutions for trucks are developed by Waabi.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Rits
Frequently Asked Questions about RITS
When was RITS founded?
RITS was founded in 2020 and raised its 1st funding round 4 years after it was founded.
Where is RITS located?
RITS is headquartered in Beijing, China.
Is RITS a funded company?
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 07, 2024.
What does RITS do?
Self-driving solutions for vehicles. The platform offers features like blind spot detection system, fatigue driving warning system, lane departure warning system, and more.
Who are RITS's investors?
RITS has 3 investors. Key investors include ZVCA, CITIC Group, and KoalaFund.