Chinese VC Funding Weekly Overview(2.10-2.19)

Feb 19, 2021

 

Toyota-backed self-driving startup Pony.ai raises $100m Series C+ round

Toyota Motor-backed autonomous driving startup Pony.ai announced that it has pocketed $100 million in a Series C+ round of financing. The latest fundraising brings the total corpus raised by Pony.ai in its Series C round to $367 million. The US-based startup, founded by Chinese professionals, completed the Series C round fundraising through two tranches, the company said in a WeChat post. The latest round roped in two new investors — Brunei's state-owned sovereign wealth fund Brunei Investment Agency, and state-backed CITIC Group's PE arm CITIC Private Equity Funds Management (CPE). Since its inception in 2016, Pony.ai has raised over $1.1 billion funding from a string of international marquee investors comprising Sequoia Capital China, Beijing Kunlun Tech, DCM China, Legend Capital, Comcast Ventures, and 5Y Capital, among others.

 

TO READ THE FULL ARTICLE