2022-03-08 Company Announcement

VMS Invested Company Pony.ai Successfully Completed the First Closing of its Series D Financing

We are pleased to announce that VMS invested company Pony.ai has successfully completed the first closing of its Series D financing, with a valuation of US$8.5 billion. The valuation of this round has increased by about 65% compared with the previous round, reflecting investor recognition and confidence in the Company’s development. The proceeds will be used for team expansion, technology R&D, fleet expansion as well as global testing and operation for Robotaxi and Robotruck, mass production of autonomous driving technology and commercial deployment etc.

Since the completion of its Series C financing in February last year, Pony.ai has achieved a number of technical and commercial milestones in the areas of autonomous driving services and smart logistics. The management commented that this round of financing is a solid foundation for the Company’s development in the next few years until the start of a large-scale commercialization. The Company’s management is extremely confident about its growth prospect and targets to facilitate the rapid development of autonomous driving technology on a global scale.

Vanessa Lee, Managing Director & Head of TMT and Consumer of VMS Group’s Private Equity Division commented: “As an earlier round investor of Pony.ai, we are thrilled to see the Company’s success in another round of fundraising, as well as the technological innovations it has achieved thus far. Pony.ai is the world’s leading autonomous driving technology company. Its pioneering technology and solid financial strength will continue to drive the growth of its business. At VMS, we invest in high-growth potential companies with groundbreaking technologies, with the ambition of facilitating industry development and generating attractive returns for investors”.

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