Legend, Morningside saddle up for $112m driverless tech investment

Promising China-US startup Pony.ai lures the "godfather" of Chinese tech and a venture capital pioneer, as well as new backing from its seed round backers.

Pony.ai, an autonomous driving tech start-up that is barely a year old, announced a new $112 million investment round on Tuesday.

Co-leading the round are Legend Capital, one of three investment funds part-owned by Chinese tycoon Liu Chuanzhi’s Legend Holdings, and Morningside Venture Capital, one of China’s pioneering early-stage venture investors.

The interest from investors like Liu, best known as the founder of Lenovo and dubbed the godfather of China's burgeoning information technology industry, underlines the heat around China's autonomous driving hopefuls.

Seed round investors Sequoia Capital China and IDG Capital also participated in the new funding round, along with Hongtai Capital,...

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