Self-driving vehicle start-up Pony.ai, founded by alumni of Waymo and Baidu, has raised $112m in a series B round led by Pony.ai is developing Level-4 self-driving cars for "geofenced applications", such as university campuses or industrial settings, enabling the technology to be in public use while also giving it time to mature enough to be used in more unpredictable environments. The proceeds will be used to fund a fleet of autonomous cars in Guangzhou, home to Pony.ai's Chinese headquarters.
Self-driving vehicle start-up Pony.ai, founded by alumni of Waymo and Baidu, has raised $112m in a series A round led by Morningside Venture Capital and Legend Capital, and featuring participation from Sequoia China. Pony.ai is developing Level-4 self-driving cars for "geofenced applications", such as university campuses or industrial settings, enabling the technology to be in public use while also giving it time to mature enough to be used in more unpredictable environments. The proceeds will be used to fund a fleet of autonomous cars in Guangzhou, home to Pony.ai's Chinese headquarters.