WeRide Series A Fundraising Update

( 2019年01月04日 ) WeRide Series A Fundraising Update

Another Tens of Millions US Dollars from SenseTime and ABC International

Guangzhou, CHINA – January 4th, 2019. WeRide has received another two significant investments in its Series A round from SenseTime Technology and ABC International (a wholly owned subsidiary of Agricultural Bank of China), reaching tens of millions US dollars. After Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi made a strategic investment in October 2018, followed by multiple top investment groups worldwide, WeRide has been recognized by leading enterprises in key industries including automotive OEM, AI technology, state-owned banking institutions and other renowned venture capital firms from China and abroad. As a top L4 autonomous driving start-up company in China, WeRide has taken the first-mover advantage and laying a solid foundation to head into autonomous driving era 2.0.

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Since advancing from technology demonstrations to large scale autonomous fleet operations, WeRide has been targeting top players from the upstream and downstream of autonomous driving industry with its proven technology and openness for cooperation. WeRide intends to continue to seek new partnerships and deepen existing ones to build up a competitive autonomous driving ecosystem.

With the support from SenseTime Technology, a world leading artificial intelligence unicorn, and ABC International, WeRide is now building a solid foundation for its future development. Tony Han, CEO & Co-founder of WeRide said “the investment and fund raising for autonomous driving is no longer made solely based on technology, but also the capability of commercialization. The cooperation with SenseTime Technology and ABC International reinforces WeRide’s leading role in L4 autonomous driving technology and business model in the market.”

WeRide’s Series A fundraising is focused on strategic investments. By evolving the autonomous driving ecosystem, WeRide aims to be fully prepared for the upcoming large scale autonomous fleet operation. The plan is to deploy a fleet of 500 autonomous vehicles in 2019 with accumulated mileage of 5 million kilometers. Plans to have trial operation and commercialization with partners in Guangzhou, Anqing and more other cities are in progress.

ABOUT WeRide.ai

WeRide (previously JingChi) is a leading L4 autonomous driving company in China. We are committed to developing autonomous driving technology and services in China to provide a safe, reliable and convenient transportation for everyone. WeRide is the first L4 autonomous driving start-up company in China to receive investment from a global top tier automaker. The global headquarter of WeRide is located in Guangzhou, with R&D center and operation divisions in San Jose, U.S.A, and Beijing and Anqing in China. For more information, please visit http://www.weride.ai.