WeRide aims to raise $440 million in its upcoming US IPO, with $320.5 million from class A share investors, looking to enhance its self-driving technology.

Aug 14, 2024•over 1 year ago

Amount Raised

$440 Million

China

Investors

Gac GroupBoschNvidia

Description

WeRide, a Chinese self-driving startup, plans to list on the Nasdaq under the ticker symbol 'WRD' and raise $440 million in its initial public offering (IPO). The company has completed 10 rounds of funding, with notable investments from Nvidia, Bosch, and GAC Group.

Company Information

Company

WeRide

Location

China

About

WeRide has raised USD310 million in its latest funding round led by the venture capital arm of the Renault-Nissan-Mitsubishi Alliance and the state-backed China Structural Reform Fund, the Chinese autonomous driving startup said today. Other participants in the Series C fundraising included Pro Capital, IDG Capital and Costone Capital, Singapore's K3 Ventures and prior investors such as Chinese media giant CMC’s venture capital arm, WeRide said. Its Robotaxi fleet has served over 60,000 customers with more than 147,100 trips made in the first year of operations without any incidents, WeRide said in December last year.

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

WeRide aims to raise $440 million in its upcoming US IPO, with $320.5 million from class A share investors, looking to enhance its self-driving technology.

Investors

Description

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Funding Insights

Company Information