Peng calls this approach “geofenced applications.” Self - driving vehicle start - up Pony.ai , founded by alumni of Waymo and Baidu , has raised $ 112 m in a series A round led by Morningside Venture Capital and Legend Capital , and featuring participation from Sequoia China . Pony.ai is developing autonomous self - driving cars for " geofenced applications " , such as university campuses or industrial parks , 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 build a fleet of autonomous cars in Guangzhou , home to Pony 's Chinese headquarters .
Self - driving vehicle start - up Pony.ai , founded by alumni of Waymo and Baidu , has raised $ 112 m in a series A round led by Morningside Venture Capital and Legend Capital , and featuring participation from Sequoia China . Pony.ai is developing autonomous self - driving cars for " geofenced applications " , such as university campuses or industrial parks , 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 build a fleet of autonomous cars in Guangzhou , home to Pony 's Chinese headquarters .