WeRide's valuation jumps to $3.3b after fundraising round
WeRide, a Chinese autonomous driving company, announced on Thursday that it has raised several hundreds of millions of dollars in its latest round of fundraising, which moves the startup's valuation to $3.3 billion.
The fresh round attracted investors including IDG Capital, Homeric Capital, CoStone Capital, Cypress Star, Sky9 Capital and K3 Ventures. Its existing investors like CMC Capital Partners, Qiming Venture Partners and Alpview Capital also participated in this round.
The move came just four months after it raised $310 million in its series B round of fundraising in January.
"With the new round of financing, WeRide will continue to invest in research and development and commercialization, with the aim of delivering large-scale autonomous mobility in the coming future," said Tony Han, founder and CEO of WeRide.
In April, WeRide obtained a permit from the California Department of Motor Vehicles to conduct driverless testing on public roads in San Jose, making it the first startup to hold driverless test permits in both China and the United States.
