(Continued from last time) Pony.ai competitor Daimler received permission from the Chinese government in the summer of 2018 to test self-driving cars powered by Baidu's Apollo platform on public roads in Beijing. did a run. Startup Optimus Ride has built a small driverless shuttle bus in Brooklyn. Waymo was the first company to receive a self-driving vehicle test permit from the California Department of Motor Vehicles (DMV) in November 2018, driving more than 20 million road miles in more than 25 U.S. cities and driving several more. A billion miles of simulation driving is being done. Other competitors include Tesla, Aptiv, May Mobility, Cruise, Aurora, Argo AI, Pronto.ai and Nuro.
However, when it comes to funding, Pony.ai's only competitors are Nuro, Waymo, Cruise and Argo. All but Argo have raised over $3 billion in venture capital. Argo is valued at $7.5 billion and Waymo at $175 billion.
Fortunately, Pony.ai has partnered with China's state-owned auto group FAW Group and Guangzhou-based automaker GAC Group to develop Level 4 robotaxi vehicles. We are also working with On Semiconductor to prototype image sensing and processing technology for machine vision. Furthermore, Pony.ai has driven more than 1.5 million kilometers (about 932,056 miles) in autonomous driving as of the end of 2019, and it is only a matter of time before it catches up with Yandex (2 million miles) and Baidu (1.8 million miles). there is
The Series C extension round was joined by Brunei's sovereign wealth fund Brunei Investment Authority and CITIC Private Equity Funds Management (CPE). Existing investors in Pony.ai include Toyota, game publisher Beijing Kunlun Wanwei, Sequoia Capital China, IDG Capital and Legend Capital. The round was led by the Teachers' Innovation Platform of the Ontario Teachers' Pension Fund in Canada, with participation from Fidelity China Special Situations PLC, 5Y Capital, ClearVue Partners and Eight Roads.
A CPE spokesperson said in an email to VentureBeat:
[via VentureBeat] @VentureBeat
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