Pony.ai, a Fremont, California-based autonomous driving company, raised $462m in funding.
The new round puts Pony.ai’s valuation at just over $3 billion.
As part of it, Toyota Motor Corporation made a $400m investment.
In August 2019, Pony.ai and Toyota initiated joint autonomous driving pilots in China. This year’s strategic investment will expand the partnership’s scope of collaboration. In addition to co-developing autonomous driving technology, the two companies will also explore further possibilities on mobility services.
Established in December 2016, Pony.ai is a technology company building autonomous driving technology across the US and China, spearheading public-facing Robotaxi pilots in both markets.