Monday | April 12, 2021

China VC Weekly: Biotech, Autonomous Driving and AI

Gracell Biotechnologies raises $100 million in Collection C spherical

Gracell Biotechnologies Inc., a Chinese language clinical-stage biopharmaceutical firm devoted to creating efficacious and reasonably priced cell therapies for the therapy of most cancers, introduced it has raised $100 million in its Collection C funding spherical. The spherical was led by Wellington Administration Firm, OrbiMed and Morningside Ventures, and joined by new investor Vivo Capital. Present traders Temasek Holdings, Lilly Asia Ventures, OrbiMed and King Star Med LP are additionally collaborating.

“We are very pleased to expand our investor base with support from a high caliber consortium,” stated Dr. William Wei Cao, founder, Chairman, and CEO of Gracell. “Our passion is to bring transformative CAR-T cell therapies to a broader group of patients by developing products that are efficacious and can be made widely available.”

Proceeds from the spherical can be used to fund inner analysis and growth and additional advance present scientific applications. Jefferies and Cooley suggested within the transaction.

About Gracell

Gracell was based in 2017 with the mission to beat the foremost trade challenges that persist for each autologous and allogeneic CAR-T cell remedy approaches. Leveraging its pioneering FasTCAR and TruUCAR expertise platforms, Gracell is creating a wealthy clinical-stage pipeline of a number of autologous and allogeneic product candidates with the potential to beat main trade challenges that stick with standard CAR-T therapies, together with prolonged manufacturing time, suboptimal manufacturing high quality, excessive remedy prices and lack of efficient CAR-T therapies for strong tumors.

Autonomous driving startup Pony.ai baggage $300 million, $6 billion valuation

Chinese language autonomous driving startup Pony.ai has reportedly accomplished a brand new spherical of financing elevating over $300 million, with a post-investment valuation of $6 billion. Canada’s Ontario Pension Fund led the spherical, contributing practically $200 million, FAW Group additionally took half within the spherical.

After the brand new spherical of financing, Pony.Ai’s valuation practically doubled. The corporate’s cumulative financing quantity at the moment exceeds $1 billion.

About Pony.Ai

Based in 2016, Pony.Ai launched a PonyPilot Robotaxi undertaking in December 2018, and took the lead in beginning the Robotaxi’s common area operations within the pilot city space of Nansha, Guangzhou, changing into the primary firm to supply Robotaxi companies in China. In November 2019, Pony.Ai launched California’s first Robotaxi service for most people.

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AI agency MINIEYE raises $40 million in Collection C spherical

Chinese language synthetic intelligence (AI) expertise firm MINIEYE introduced that it has raised 270 million yuan ($40 million) in a Collection C Spherical of financing, which is anticipated to assist strengthen its place within the autonomous driving expertise section. Traders within the spherical included Oriental Fortune Capital, Harvest Investments and Imaginative and prescient Plus Capital.

The corporate’s AI-based methods assist self-driving automobiles assess the encompassing setting and enhance automated decision-making. Its methods have been utilized by quite a few main automotive clients together with Normal Motors, SAIC Motor Corporatrion, BYD Auto and Dongfeng Motor.

MINIEYE’s founder and CEO Liu Guoqing stated the proceeds of the financing spherical will go in direction of funding growth of superior automated driving applied sciences, in addition to serving to the corporate ship mass-produced large-scale merchandise, strengthen its supply-chain/buying operations and enhance total cashflow.

About MINIEYE

MINIEYE was based in 2013 to supply dependable sensing and decision-making options for autonomous automobiles by the usage of AI. The corporate says it goals to assist enhance highway security by lowering site visitors accidents by the usage of automation.

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