Home / News / Autonomous vehicle startup WeRide raises $320 million

Autonomous vehicle startup WeRide raises $320 million

WeRide, a Guangzhou, China-based startup growing self reliant automobile methods, this night time introduced that it raised a complete of $310 million in sequence B investment after finishing sequence B2 and B3 rounds. The fundraising follows the closure of a $200 million strategic spherical by way of Chinese language bus maker Yutong in December.

Some professionals are expecting the pandemic will hasten the adoption of self reliant automobiles for supply. Self-driving automobiles, vehicles, and vehicles promise to reduce the danger of spreading illness by way of proscribing motive force touch, which is most likely why other folks around the globe agree with the security of self reliant automobiles greater than they did 3 years in the past, in line with a number of surveys by way of Deloitte.

WeRide, which was once based in 2017 and has R&D and operations facilities in Beijing, Shanghai, and Silicon Valley, objectives to broaden “stage four” driverless automobiles that may care for nearly all of using scenarios independently with out human intervention. WeRide labored with Yutong, a 57-year-old corporate, to make autonomous-driving minibuses and town buses with out guidance wheels, accelerators, or brakes meant for city open roads.

WeRide introduced a publicly obtainable robo-taxi provider in Guangzhou in November 2019, overlaying a space more or less 89 sq. miles within the Huangpu and Guangzhou Construction districts. In June, WeRide’s robo-taxi provider become to be had to the general public via Amap, a well-liked ride-hailing cell app in China.

WeRide claims its robo-taxis finished a complete of 147,128 journeys for greater than 60,000 passengers all the way through the primary yr of its provider’s operation. Beginning January 15, the corporate plans to release a pilot with shuttles and automobiles depending on its self reliant navigation methods round Guangzhou World Bio Island, overlaying all the area’s industry and industrial districts.

WeRide

WeRide additionally says it plans to deploy its self-driving fleet within the Guangzhou downtown house
later this yr, in addition to enlarge to different towns.

“Within the yr 2021, extra main traders and companions are becoming a member of us, bringing of their strategic sources to meet the function of commercializing self-driving era. WeRide is taking pictures the upward development within the construction of AI- empowered mobility business, and additional speeds up R&D and the  commercialization of our applied sciences,” CEO and founder Tony Han mentioned in a remark. “We will be able to give a boost to the steadiness and protection of self-driving methods, perform our services and products whilst adhering to rules, and try to deliver extra self-driving merchandise to the marketplace. We firmly imagine that this era will make the arena higher for everybody.”

Yutong remained the strategic lead investor of WeRide’s newest tranche. Different backers integrated CMC Capital Companions, CDB Apparatus Production Fund, Hengjian Rising Industries Fund, Zhuhai Huajin Capital, and Tryin Capital. Qiming Project Companions, Sinovation Ventures, and Kinzon Capital, who have been concerned within the earlier rounds, additionally participated within the investment.

Different main automakers together with Nissan, Renault, and Mitsubishi in the past invested in WeRide.

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