Chinese Autonomous Driving Company WeRide Raises New Funding Round at $3.3 Billion Valuation

Image source: WeRideChinese driverless car start-up WeRide Corp announced Thursday it has raised new capital valuing the company at $3.3 billion dollars. Existing investors CMC Capital Partners, Qiming Venture Partners and Alpview Capital also participated in the round. With this new funding, WeRide will continue to strengthen its research and development capabilities and accelerate the commercialization of its services, according to founder and chief executive officer Tony Han. The latest funding round comes after a $310 million cash injection in January and $200 million in December. The company is currently testing driverless vehicles in California, China’s southern city of Guangzhou and the central city of Zhengzhou.