This article only represents the author's own views.

China’s autonomous driving market has become a race to an evasive finish line, as a growing number of technology providers try to create sustainable business models while vying for business from a limited pool of vehicle makers. The fierce competition means startups must often make financial concessions to vehicle makers to get their products into the ecosystem early, squeezing their already thin margins and draining their coffers even faster.

In such an environment, fundraising has become the mantra of the day for these companies, which are hitting up both private equity and stock market investors with their steady requests for new cash. One relative latecomer to the race, QCraft Inc., recently topped up its coffers with the completion of its C round financing that raised several hundred million yuan, according to Chinese media reports.