SHANGHAI, Nov. 6 (Xinhua) -- Pony.ai, an autonomous driving startup based in the southern Chinese city of Guangzhou, announced Friday that it has raised 267 million U.S. dollars in its series C funding, which pushes the company's valuation up to more than 5.3 billion U.S. dollars.

The funding was led by the Teachers' Innovation Platform of the Ontario Teachers' Pension Plan. Pony.ai's existing investors including Fidelity China Special Situations PLC, 5Y Capital, ClearVue Partners and Eight Roads were among the participants.

James Peng, co-founder and CEO of Pony.ai, said the new funding will help support the company's business growth, deepen its partnership with existing investors, and promote the future R&D of self-driving technology.

The startup has launched robotaxi services in China and the United States, and is working with auto manufacturers, suppliers and logistics companies on autonomous trucks. Enditem

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