5Y News | Pony.ai Closes $367 Million Series C Round
Since its founding four years ago, Pony.ai has raised more than $1.1 billion in total funding.
On February 8, Pony.ai announced it had raised $100 million in a Series C+ round. This brings its total Series C funding to $367 million, with new investors Brunei Investment Agency, the sovereign wealth fund of Brunei, and CPE.
This marks Pony.ai's first funding announcement of 2021, with the company having raised nearly $900 million over the past 12 months. In November, Pony.ai announced a $267 million Series C round led by Teachers' Innovation Platform (TIP), the venture investment platform of Ontario Teachers' Pension Plan.
Since its founding four years ago, Pony.ai has raised over $1.1 billion in total funding, primarily from leading international institutional investors and automakers.
About Pony.ai:
Since its founding in late 2016, Pony.ai has been dedicated to providing safe, reliable autonomous driving technology and working toward a complete transformation of future transportation. The company has partnered with multiple top-tier global automakers and is pushing toward technology standardization and commercialization.
Pony.ai is the only company in the world to operate robotaxi services in both China and the US, providing ride-hailing services to passengers. The company has accumulated over 3.5 million kilometers of autonomous driving globally. At the same time, Pony.ai is working closely with leading automakers, Tier 1 suppliers, and logistics companies to develop autonomous trucks, offering autonomous driving solutions for trunk logistics and long-haul freight transportation.
5Y Capital (formerly Morningside Venture Capital) currently manages approximately $3 billion across USD and RMB dual-currency funds. We believe the world becomes a better place when the "crazy" you that others see starts to be believed in.
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