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China’s auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
China’s major automobile and internet companies, including Chongqing Changan Automobile, Alibaba and Tencent, are setting up a 9.76 billion yuan ($1.46 billion) joint venture to invest in ride-sharing industry, Chongqing Changan Automobile said on Friday. Chongqing Changan Automobile has invested 1.6 billion yuan ($238.70 million) in the investment company in Nanjing with partners such as Alibaba’s investment firm, Tencent’s affiliate, Suning’s investment unit, FAW, and Dongfeng Motor. (Fonte: Reuters)
Robotics process automation startup UiPath raising $400M at more than $7B valuation
UiPath, a robotics process automation platform targeting IT businesses, is raising more than $400 million in Series D funding from venture capital investors at a valuation north of $7 billion. UiPath, founded in 2005, has raised $409 million to date, meaning the new round of capital will double the total capital invested in the startup, as well as its valuation. Its $225 million Series C, raised just six months ago, valued the business at $3 billion, according to PitchBook. UiPath is backed by top-tier investors CapitalG and Sequoia Capital, which co-led its Series C, as well as Accel, Credo Ventures and Earlybird Venture Capital, among others. The latest funding round is being led by a public institutional investor. (Fonte: TechCrunch)
GM to announce $300 million investment in Orion EV/AV plant
General Motors Co will announce on Friday plans to invest $300 million in a suburban Detroit plant that builds electric and self-driving vehicles for Chevrolet and the automaker’s self-driving Cruise unit, two people familiar with the plans said on Thursday. The largest U.S. automaker is expected to announce it plans to build a new electric compact vehicle for Chevy, said the people, who asked not to be identified. (Fonte: Reuters)
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