Autonomous driving startup Pony.ai (小马智行) just nabbed an A1 funding round worth $102 million led by ClearVue Partners and Eight Roads. The funding is set to speed up the commercialization of Pony.ai’s products, China Money Network reports.

In January 2018, Pony.ai received $112 million in Series A funding only one year after its inception. The round was led by Morningside Venture Capital and Legend Capital. The new round made the company enough to make it a serious contender in the sector anywhere in the world.

The two founders James Peng and Lou Tiancheng have backgrounds at both Baidu and Google’s autonomous driving projects. Pony.ai is based in California but considers itself a China-first company. It opened its Chinese headquarters in Guangzhou last October.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.