Autonomous driving firm Pony.ai said it raised $462 million in its latest funding round, led by an investment by Toyota Motor Corp.
Toyota invested around $400 million (¥44.2 billion) in the round, Pony.ai said in a statement Wednesday, marking its biggest investment in an autonomous driving company with a Chinese background.
The latest fund raising values the three-year-old firm, already backed by Sequoia Capital China and Beijing Kunlun Tech Co., at slightly more than $3 billion.