Wenrun Technologies (WRD.US) plans to go public in the United States with a proposed fundraising of up to $400 million. Investors include NVIDIA Corporation and others.

According to sources familiar with the matter, Chinese autonomous driving technology startup WeRide (WRD.US) has submitted IPO documents to the U.S. Securities and Exchange Commission (SEC), seeking to list on the Nasdaq with plans to raise up to $400 million. The company plans to raise approximately $100 million through the IPO, and raise an additional $200 to $300 million through the offering. Sources say WeRide may conduct its initial public offering as early as next week. Discussions are still ongoing, and details such as the size, timing, and structure of the IPO may change. According to the documents submitted to the SEC, Alliance Ventures, the venture capital fund under the Renault-Nissan-Mitsubishi Alliance, has agreed to purchase approximately $97 million worth of shares in WeRide. The documents show that Alliance Ventures, which participated in WeRide's funding rounds in 2018 and 2021, is one of the existing shareholders purchasing shares at the IPO price. Public records show that WeRide was founded in 2017 and develops autonomous driving technology. It is currently conducting research, testing, and operations of autonomous driving in 30 cities across 7 countries worldwide. The company's autonomous taxi fleet vehicles are purchased from Nissan. It is reported that the IPO of WeRide is being led by Morgan Stanley, J.P. Morgan, and CICC. WeRide has completed 10 rounds of financing, with investors including He Xiaopeng, Guangzhou Automobile Group, NVIDIA Corporation, Bosch, IDG Capital, Qiming Venture Partners, and Foundation Capital. The total amount raised from public financing exceeds $1.09 billion, with the final round of financing in 2022 reaching a valuation of $5.1 billion.