Menu
KrASIA
News

Grindr owner Kunlun to invest USD 50 million in self-driving startup Pony.ai

Written by Luna Lin Published on 

Share
This turn comes as the company is facing pressure to spin off Grindr.

Beijing-based gaming company Kunlun announced on Wednesday evening its plan to buy a 3% stake in Pony.ai, a company that is developing autonomous vehicles, with USD 50 million in what the company calls a “foresighted” investment.

“It is an important investment in the artificial intelligence field,” Kunlun said in its filing to the Shenzhen Stock Exchange.

Kunlun, which has recently been under mounting pressure from the US government to divest from the popular gay dating app Grindr, expects that its deal with Pony.ai will “inject new energy into the company’s development.”

Pony.ai was founded in Silicon Valley by former employees of Google and Baidu. The company received five road test licenses from Beijing’s transportation regulator in January.

The self-driving startup closed its Series A1 funding round with USD 102 million last July, carrying a valuation close to USD 1 billion.

Share

You might like these

  • News

    Baidu to split shares ahead of rumored Hong Kong listing

    By 

    Song Jingli

    25 Jan 2021    11:38 AM

KrASIA InsightsKrASIA Insights

  • Picus will invest up to USD 75 million in Asia’s early-stage tech startups.

    Q&A

    German investment firm Picus Capital to focus on Asia in 2021: Q&A with Oliver Heinrich

    By Avanish Tiwary

    25 Jan 202101:05 AM

Most PopularMost Popular

See All