Pony.ai Raises US$267M in Series C; Valued at Over US$5.3 Billion

pony

Pony.ai, a Fremont, CA-based autonomous driving company, raised US$267M in Series C funding round.

The round, which valued the company at over US$5.3 billion, was led by Ontario Teachers’ Pension Plan Board’s (Ontario Teachers’) Teachers’ Innovation Platform (TIP), with participation from existing partners Fidelity China Special Situations PLC, 5Y Capital (formerly Morningside Venture Capital), Clearvue Partners, and Eight Roads, among others.

The company intends to use the funds for growth globally.

Led by CEO James Peng, Pony.ai is building solutions for autonomous mobility. The company partners with top global original equipment manufacturers (OEMs) to standardize and commercialize autonomous technology. The company has been offering its Robotaxi services to the general public in major cities across the U.S. and China, serving thousands of riders – and covering more than 3.5 million kilometers autonomously – since 2018. Pony.ai is also working closely with OEMs, tier-ones, and logistic companies to develop robotruck solutions targeting the long-haul logistics market.

FinSMEs

09/11/2020

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