Self-driving car startup Pony.ai raises over $100 million
Pony.ai, a year-old California-based self-driving car startup, announced it recently completed a $112 million Series A funding round at an undisclosed valuation, according to TechCrunch. Morningside Venture Capital and Legend Capital, two Chinese venture firms, led the round, and were joined by eight other venture firms, including Comcast Ventures, IDG Capital Partners, Polaris Capital Group, and Sequoia Capital. Its platform aims to connect a self-driving car's sensors, software, cameras, and other technologies to create a system capable of Level 4 autonomy. A vehicle equipped with Pony.ai's system would be able to operate on its own under certain confined scenarios, but still feature a steering wheel and pedals, making it similar to the systems auto supplier Aptiv is building.