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WeRide secures new funding spherical | Automotive Trade Information
WeRide, a China-based autonomous driving firm, has secured Collection C funding from traders together with IDG Capital, Homeric Capital, CoStone Capital, Cypress Star, Sky9 Capital and K3 Ventures, in addition to present traders CMC Capital Companions, Qiming Enterprise Companions and Alpview Capital.
The newest fundraising spherical got here simply 4 months after the corporate raised US$310m in its sequence B fundraising spherical in January and is claimed to have lifted WeRide’s valuation to US$3.3bn.
WeRide intends to make use of the most recent funding spherical to spend money on R&D and commercialization as it really works in the direction of the next-generation of Degree 4 driving, a time period meaning a car can drive with out human intervention in some environments and situations. The corporate can be utilizing the funds to arrange to commercialize its expertise.
WeRide CEO Tony Han mentioned in a press release “with the brand new spherical of financing, WeRide will proceed to spend money on analysis and growth and commercialization, with the goal of delivering large-scale autonomous mobility”.
In 2019, WeRide launched the primary open to public self-driving Robotaxi service in Guangzhou, China, masking an space of greater than 144km². The corporate relies in Guangzhou.
The corporate says it has obtained strategic investments from international automakers, together with Renault-Nissan-Mitsubishi Alliance and Yutong Group. WeRide is the primary startup on the planet that holds driverless check permits in each China and the US.