# PATEO lnc.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pateo-lnc

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Shanghai, China
- Website: www.pateo.com.cn
- Total disclosed funding: $211M
- Latest round: Series C (Jun 27, 2022)
- Investors on record: 5

## About

Established in 2009 and based in Shanghai, China, PATEO lnc. is a smart vehicle technology company that engages in the research and development of internet of vehicle systems. It has five R&D centres in Nanjing, Wuhan, and Shenzhen, and an intelligent manufacturing base in Xiamen, with more than 1,000 R&D personnel. It has also established strategic cooperation with Cerence, Baidu, and Suning. And, its service covered about 30 automobile brands. In March 2024, the firm raised a strategic investment for CNY 1.5 billion. As of 2024, the company has applied for a total of 6,692 intellectual property rights, of which invention patents account for 83%.

PATEO lnc. mainly provides internet of vehicle systems, including QING Core, Qing Cluster, Qing Safety & Security, Qing OS, Qing Mobile, Qing Map, Qing iVoka, Qing AI, Qing Vehicle-data, Qing Cloud, Qing Pay, and Qing Autonomous. The QING Core is the internet of vehicle hardware platform that the shift speed of applications faster than mobile phones. And the QING Core includes multiple modules, such as entertainment systems and automatic driving. The Qing Safety & Security supports vehicle data mining, remoting controlling vehicles, call functions, and tracking lost vehicles.

The company will use the strategic investment for research and development to create a new generation of automotive intelligent integrated domain control products, including next-generation smart cockpits, autonomous driving, domestic car-standard chips and advanced process modules, and display screens.

## Funding rounds

- Series C, Jun 27, 2022, $149M — Ping An Trust, Beijing Automotive Group Co., Ltd, Shanghai Guosheng Capital Management
- Series A, Jan 1, 2017, $43M — Suning Capital
- Series A, Nov 16, 2015, $19M — Red Horse Capital

## Investors

- Red Horse Capital (https://capitalatlas.ai/funds/red-horse-capital) — Series A
- Suning Capital (https://capitalatlas.ai/funds/suning-capital) — Series A
- Ping An Trust — Series C
- Beijing Automotive Group Co., Ltd — Series C
- Shanghai Guosheng Capital Management (https://capitalatlas.ai/funds/shanghai-guosheng-capital-management) — Series C