Self sufficient car startup WeRide raises $320 million

WeRide, a Guangzhou, China-based startup growing independent car methods, this night 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 through Chinese language bus maker Yutong in December; this tranche added $110 million to WeRide’s sequence B haul..

Some professionals expect the pandemic will hasten the adoption of independent automobiles for supply. Self-driving automobiles, vehicles, and vehicles promise to attenuate the danger of spreading illness through proscribing driving force touch, which is possibly why other folks around the globe believe the protection of independent automobiles greater than they did 3 years in the past, consistent with a number of surveys through Deloitte.

WeRide, which used to be based in 2017 and has R&D and operations facilities in Beijing, Shanghai, and Silicon Valley, goals to broaden “degree four” driverless automobiles that may maintain the vast majority of using eventualities 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 supposed for city open roads.

WeRide introduced a publicly available robo-taxi provider in Guangzhou in November 2019, overlaying a space kind of 89 sq. miles within the Huangpu and Guangzhou Building districts. In June, WeRide’s robo-taxi provider become to be had to the general public thru 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 independent navigation methods round Guangzhou Global Bio Island, overlaying the entire area’s industry and industrial districts.


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

“Within the yr 2021, extra main traders and companions are becoming a member of us, bringing of their strategic assets to meet the function of commercializing self-driving era. WeRide is shooting the upward pattern within the construction of AI- empowered mobility trade, and additional hurries up R&D and the  commercialization of our applied sciences,” CEO and founder Tony Han stated in a observation. “We will be able to enhance the steadiness and protection of self-driving methods, perform our services and products whilst adhering to rules, and attempt to convey extra self-driving merchandise to the marketplace. We firmly imagine that this era will make the sector 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. To this point, the corporate has raised over $500 million.


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