China based autonomous driving startup WeRide valued at $3.3 billion in latest funding round

In a statement, WeRide, a China-based autonomous driving startup which is backed by Renault, Nissan, and Mitsubishi Motors  said, it has raised “hundreds of millions” of dollars in its latest funding round which valued it at $3.3 billion.

Guangzhou, China headquartered WeRide however did not disclose details on the size of the funding.

In a statement on Thursday, WeRide said, investors in its latest funding round include Homeric Capital and IDG Capital. The startup had raised $310 million in January.

WeRide is pursuing a level 4 autonomous standard, wherein the vehicle can handle all aspects of autonomous driving by itself in most circumstances with no human intervention.

In April, it received a permit to test two passenger vehicles on California’s public roads without a safety driver in the front section.

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