China’s Sunshine Insurance joins funding round for Lionbridge

July 16 2018 by InsuranceAsia News Staff

Sunshine Insurance Group’s investment arm, Riverhead Capital Investment, recently joined a funding round for Lionbridge Group, which provides leasing services and leasing asset management for enterprises and individuals in commercial vehicles and logistics.

Lionbridge said it has received Rmb1 billion (US$150 million) in total funding from Baidu and Riverhead. Baidu said it plans to cooperate with the Chinese auto and logistics financier using its platform that has connected more than 100,000 commercial vehicle drivers and individual owners, and more than 14,000 transportation companies.

Baidu and Lionbridge will craft an autonomous driving technology, and Baidu will provide artificial intelligence, risk credit data, map data and driving data to Lionbridge.

The three firms will partner together in the areas of artificial intelligence-based risk control technology, smart driving, connected vehicle, finance and insurance.

MORE FROM: Asset Management