Total amount raised
$1.4 Billions
Latest funding date
10/1/2024
Location
WeRide has successfully raised significant funding over multiple rounds, establishing itself as a key player in the autonomous driving industry. The company is dedicated to transforming urban living through its advanced driverless technologies.
Keep reading to delve into the details of WeRide's fundraising journey and the investors who are supporting this innovative venture.
What Is WeRide?
WeRide, established in 2017, is a leading global company in autonomous driving technologies. Headquartered in Guangzhou, China, the company operates in over 30 cities across 9 countries.
WeRide develops a range of driverless solutions, including Robotaxi, Robobus, Robovan, Robosweeper, and an advanced driver-assistance system (ADAS). The company aims to make transportation safer, more affordable, and accessible.
While the exact number of employees and the founders' names are not specified, WeRide's extensive operations and partnerships highlight its significant impact in the autonomous driving industry.
How Much Funding Has WeRide Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2017
- Lead Investors: Qiming Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of WeRide's autonomous driving technology.
- Series A
- Amount Raised: Not publicly disclosed
- Date: October 2018
- Lead Investors: Renault-Nissan-Mitsubishi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research and development efforts and form strategic partnerships.
- Series B
- Amount Raised: $300M
- Date: January 2021
- Lead Investors: Zhengzhou Yutong Bus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the deployment of autonomous buses and expand market presence.
- Series C
- Amount Raised: $310M
- Date: May 2021
- Lead Investors: China Structural Reform Fund, IDG Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Series D
- Amount Raised: $400M
- Date: December 2021
- Lead Investors: Asia Investment Capital, China-Arab Investment Funds
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and further development of autonomous driving solutions.
- Corporate Round
- Amount Raised: $100M
- Date: October 2022
- Lead Investors: China Development Bank Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and invest in new technology initiatives.
- Post-IPO Equity
- Amount Raised: $320.5M
- Date: October 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Over $4 billion
- Motivation Behind the Round: To capitalize on positive investor sentiment and regulatory easing for U.S. listings.
Total Amount Raised: $1.4305 billion. Current Valuation: Over $4 billion.
Key Investors
- The Carlyle Group
- Details: The Carlyle Group is a global investment firm with a diverse portfolio, including private equity, real assets, and private credit. It manages over $260 billion in assets across various sectors.
- Investment Focus Areas: Aerospace, defense, consumer & retail, energy, financial services, healthcare, industrial, technology, telecommunications.
- Notable Investments: Booz Allen Hamilton, Dunkin' Brands, Supreme.
- Idinvest Partners
- Details: Idinvest Partners is a European private equity and venture capital firm that focuses on financing small and medium-sized enterprises. It has over €8 billion in assets under management.
- Investment Focus Areas: Technology, healthcare, industrials.
- Notable Investments: Deezer, Meero, Vestiaire Collective.
- Renault-Nissan-Mitsubishi
- Details: Renault-Nissan-Mitsubishi is a strategic alliance between three major automotive manufacturers. The alliance focuses on collaborative projects and shared technologies to enhance competitiveness.
- Investment Focus Areas: Automotive, electric vehicles, autonomous driving.
- Notable Investments: Waymo, Uber, Aurora.
- China Structural Reform Fund
- Details: The China Structural Reform Fund is a state-backed investment fund aimed at supporting structural reforms and economic development in China. It focuses on strategic sectors to drive innovation and growth.
- Investment Focus Areas: Infrastructure, technology, energy, healthcare.
- Notable Investments: Not publicly disclosed.
- Qiming Venture Partners
- Details: Qiming Venture Partners is a leading Chinese venture capital firm that invests in early to growth-stage companies. It has a strong focus on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer products, clean technology.
- Notable Investments: Xiaomi, Meituan-Dianping, Bilibili.
What's Next for WeRide?
WeRide's recent financial achievements, including raising $440.5 million through a U.S. IPO and private placement, position the company for significant growth. The expansion into U.S. markets and increased investor interest in autonomous driving technology present substantial opportunities. With a valuation now over $4 billion, WeRide is poised to capitalize on advancements in AI and autonomous vehicles.
Future fundraising opportunities are promising, especially if underwriters exercise their options to purchase additional shares. However, WeRide will need to navigate stringent safety standards and potential U.S. regulatory hurdles, including proposed restrictions on Chinese tech in autonomous vehicles. Despite these challenges, the company's strategic moves and industry trends suggest a bright future ahead.
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