Autonomous vehicle startup Pony.ai has raised USD 102 million in a Series A funding round co-led by ClearVue Partners and Eight Roads (the proprietary investment arm of Fidelity International Limited). 

New investors in this round include Green Pine Capital Partners, China Merchants Capital, Redpoint Ventures China, Adrian Cheng (Founder of K11), and Delong Capital. Existing investors Sequoia Capital China, Morningside Ventures, DCM Ventures, and Hongtai Capital also participated in the round. 

James Peng, Co-founder and CEO of Pony.ai, said“I believe the next major challenge for autonomous cars will be small and medium scale deployment—this is a critical step to validating the system’s overall stability and reliability. We are grateful for the new and existing investors who support us to achieve this in future.”

Last month, Pony.ai got the autonomous vehicle testing license in Beijing. 

The startup will use the capital for its fleet expansion, team growth, partnership enhancement, and accelerating its commercialization.

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