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ISSUE – NOV. 09 | Chinese autonomous vehicle startup Pony.ai hits $5.3 billion valuation

Pony.ai,  the Chinese autonomous vehicle startup and relative newcomer to the industry, is now valued at $5.3 billion following a fresh injection of $267 million in funding. The round was led by TIP, an innovation fund within the Ontario Teachers’ Pension Plan Board that focuses on late-stage venture and growth equity investments in companies that deliver disruptive technology. Existing partners Fidelity China Special Situations PLC, 5Y Capital (formerly Morningside Venture Capital), ClearVue Partners and Eight Roads also participated in the round. The new funds will primarily be used for research and development, according to the company. [ Tech Crunch ]

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