# Boonray

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/boonray

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Shanghai, China
- Website: www.boonray.com/
- Total disclosed funding: $14M
- Latest round: Series B (Jun 18, 2025)
- Investors on record: 5

## About

Based in Shanghai, China and established in 2015 by Xinyi Hu and Yang Yang, Shanghai Boonray Intelligent Technology Co., Ltd., trading as Boonray, is a robotics development and application company, providing self-driving solutions and operational services for open pit mines. In 2021, it's intelligent driving technology won the Digital Empowerment Award in the Artificial Intelligence Conference. Its business partners include DJI, SPIC, and Huawei. The founder as well as the CEO, is a member of the GEARE program at the University of Karlsruhe. 
In August 2026, Boonray raised a Pre-IPO funding led from CITIC Private Equity Management, Xiamen Tungsten Co., Ltd., and Jiuzhi Capital.

The company develops products utilizing autonomous driving technology, ubiquitous robotics, and industrial IoT technology. Its products include iDrive autonomous driving system, remote control driving system, cloud-based forklift monitoring and dispatching system, V2X vehicle networking system, assisted driving, Boonray Intelligent Flight System, and Boonray Cloud. Boonray also launched the Airborne Perception Control Unit. The products and technologies can be used in mine operation, photovoltaic inspection, park management and other fields.

The company's revenue is generated by providing electric unmanned mining trucks and zero-carbon unmanned mining solutions.

Boonray aims to accelerate the global adoption of autonomous and zero-carbon mining solutions by advancing L4 autonomous driving technologies, expanding intelligent mining deployments worldwide, and supporting the digital transformation of the mining industry.

## Funding rounds

- Series B, Jun 18, 2025 — Daocin Capital, Jiuzhi Capital, Beijing Shuimu Asset Management
- Series B, Sep 4, 2023, $14M — Ronseal Investment Management, Jiuzhi Capital, Golden Lake Capital

## Investors

- Ronseal Investment Management (https://capitalatlas.ai/funds/ronseal-investment-management) — Series B
- Jiuzhi Capital (https://capitalatlas.ai/funds/jiuzhi-capital) — Series B
- Golden Lake Capital — Series B
- Daocin Capital (https://capitalatlas.ai/funds/daocin-capital) — Series B
- Beijing Shuimu Asset Management — Series B