WeRide, a China-based autonomous driving company, has secured Series C funding from buyers such as IDG Capital, Homeric Capital, CoStone Capital, Cypress Star, Sky9 Capital and K3 Ventures, as effectively as existing buyers CMC Capital Associates, Qiming Enterprise Associates and Alpview Capital.
The recent transaction values WeRide at USD3bn.
WeRide intends to use the most current funding spherical to commit in R&D and commercialization as it operates to the future-generation of Stage 4 driving, a term that implies a car can travel without having human intervention in some environments and situations. The organization is also working with the funds to prepare to commercialize its technological innovation.
In 2019, WeRide launched the 1st open up to public self-driving Robotaxi service in Guangzhou, China, masking an place of additional than 144km². The organization is based in Guangzhou.
The organization says it has received strategic investments from world wide automakers, such as Renault-Nissan-Mitsubishi Alliance and Yutong Team. WeRide is the 1st startup in the globe that holds driverless test permits in both China and the US.
About the Author
