Autonomous driving startup WeRide closes Series C funding round, valued at $3.3 billion

Shanghai (Gasgoo)- Chinese autonomous driving startup WeRide announced on May 13 the completion of its Series C funding with several hundred million dollars raised, valuing the company at $3.3 billion.

The latest funding round is invested by IDG Capital, Hechuang Investment, CoStone Capital, Cypress Star, Sky9 Capital, and K3 Ventures. Some institutes involved in WeRide's previous funding rounds, such as CMC Capital, Qiming Venture Partners, and AlpView Capital are also among the investors this time.

WeRide's Robotaxi's fleet; photo credit: WeRide

The Series C financing was closed fewer than four months after the startup completed its Series B round. WeRide announced on Jan. 14 it had finished the $310 million Series B funding, which was led by Yutong Group, a Zhengzhou-based commercial vehicle manufacturer.

At the end of January, the company launched its self-driving buses on Guangzhou International Bio Island and started offering trial rides to the public. Meanwhile, WeRide kicked off the regular tests of its Mini Robobus.

Founded in Dec. 2017, WeRide engages in developing Level 4 autonomous driving technologies. It is now the only autonomous driving company to gain strategic investment from leading automakers of both commercial vehicles and passenger vehicles (the Renault–Nissan–Mitsubishi Alliance).

In April 2021, WeRide received a permit from the California Department of Motor Vehicles that allows the company to test two autonomous vehicles without a driver behind the wheel on specified streets within San Jose. The company is to-day the only startup in the world to receive driverless testing permits in both China and the U.S.