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<ul><li><keyword id="8026361" type="General" weightage="20" keywordseo="pony-ai" source="Orion">Pony.ai</keyword> has commercialized robotaxi service in China.</li><li>The company had to qualify two years of autonomous driving tests.</li><li>For now, 100 robotaxi will operate in Guangzhou.</li></ul>The Chinese self-driving company Pony.ai, backed by <keyword id="6374528" type="General" weightage="20" keywordseo="toyota" source="Orion">Toyota</keyword>, gets taxi license to operate 100 autonomous vehicles as traditional taxis in Nansha, Guangzhou. Pony.ai has become the first company in the world to give robotaxi services in any city.<br /><br />Back in November 2021, Pony.ai gained approval for testing 67 vehicles in Beijing. The company also tried to establish its presence in the US but it has faced set back after its autonomous vehicles crashed in California on 28 October 2021, resulting in its permit getting suspended. <br /><br />According to Pony.ai, it has completed around 700,000 trips since April 2022 and 80% of riders are repeat customers. <br /><br />For qualifying taxi license, Pony.ai had to pass safety and other multifaceted vehicle qualification tests that were set by national inspection institutions. The company has to go through 24 months of testing, 1 million kilometers of testing and 200,000 kilometers of testing within Guangzhou. <br /><br />Pony.ai was founded by James Peng and Tiancheng Lou in California, in 2016. According to the company's vision, they aim to bring sustainability, safe and accessible mobility across the globe. The company has partnered with leading original equipment manufacturers (OEMs) like Toyota, FAW Group, and GAC Group.<br /><br />With the taxi license permit, Pony.ai will start operation in May. It will start charging fares in the 800 square kilometers of Nansha with its 100 robotaxis. The company also plans to expand its footprint to the other areas of Guangzhou and other tier-1 cities in China next year. <br /><br />To book a ride and pay for the service, passengers will use PonyPilot+ App. Robotaxis will operate both day and night time (8:30 to 22:30). The taxi fares will be standard. <br /><br />Currently, autonomous vehicles will have a driver present in the car but the company plans to remove them over a period of time.<br /><br /><strong>SEE ALSO:</strong><br /><a href="https://www.businessinsider.in/stock-market/news/bought-twitter-shares-in-india-heres-what-will-happen-after-elon-musks-acquisition-and-twitter-going-private/articleshow/91090688.cms">Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private</a><br /><a href="https://www.businessinsider.in/tech/enterprise/news/twitterati-go-crazy-with-memes-as-elon-musk-buys-twitter/articleshow/91089482.cms">Twitterati go crazy with memes as Elon Musk buys Twitter</a><br />

China gets its first commercial self-driving taxi service after two years of testing

<ul class="summary-list"><li>Chinese <keyword id="2486221" type="TECHNOLOGY" weightage="60" keywordseo="self-driving-technology">self-driving technology</keyword> startup <keyword id="8026361" type="UNKNOWN" weightage="60" keywordseo="Pony-ai">Pony.ai</keyword> is putting off plans to list in the US stock market, <a href="https://www.reuters.com/technology/exclusive-chinas-tech-crackdown-thwarts-ponyais-us-listing-plans-sources-2021-08-11/">according to a Reuters report</a>.</li><li>Pony.ai wasn't able to secure Beijing's assurance that it wouldn't be a target of the government's regulatory crackdown. </li><li>The company will work to raise money in a private fundraising round at a valuation of $12 billion, the report said. </li></ul><p>Pony.ai, a Chinese self-driving technology startup, is holding off on plans to go public in the US after it was unable to secure Beijing's assurance that it wouldn't be a target of the government's regulatory crackdown on tech companies, <a href="https://www.reuters.com/technology/exclusive-chinas-tech-crackdown-thwarts-ponyais-us-listing-plans-sources-2021-08-11/">according to a Reuters report</a>. </p><p>Pony.ai was in exclusive talks to go public through a merger with blank-check firm <a href="https://markets.businessinsider.com/stocks/vtiq-stock">VectoIQ Acquisition II</a> and the company was looking to list by October, sources told Reuters in a report published late Wednesday. </p><p>The decision makes Pony.ai one of the largest companies to suspend plans to list in the US after China launched a data-security review of <a href="https://markets.businessinsider.com/stocks/didi-stock">Didi Global</a> just days after the ride-sharing services company's $4.4 billion listing on New York Stock Exchange went live on June 30. </p><p>Pony.ai, which is backed by car giant <a href="https://markets.businessinsider.com/stocks/tm-stock">Toyota Motor</a>, will aim to raise money in a private fundraising round at a valuation of $12 billion, with sources also telling Reuters the company still hopes to list in the US if it were to receive clearance from the Chinese government. </p><p>A Pony.ai spokesperson told Reuters it has no current plan or timeline to go public and declined to comment on the talks.</p><p>The Chinese government has targeted big technology companies and others with cybersecurity reviews and industry rule changes in an effort to clamp down on issues including anti-competitive behavior and what it sees as security risks in Chinese firms listing in the US. </p><p>Didi Global shares have been shoved down to nearly $9 apiece from its $14 IPO price after the security review was launched in early July. The review led Chinese regulators to order the removal of Didi's app from mobile app stores in China, citing Didi's handling of customer data. </p><p>Pony.ai, which develops and tests its autonomous driving vehicles in the US and China, was founded by former Google and Baidu engineers Peng and Lou Tiancheng in 2016.</p><p><strong><em>Read more:</em></strong> <a href="https://www.businessinsider.com/investors-chinese-stocks-variable-interest-entity-accounting-fraud-regulatory-crackdown-2021-7"><em>Chinese stocks are tanking. Here's why their financial meltdown could get way, way worse</em></a></p>

China crackdown leads self-driving tech startup Pony.ai to put off plans to list in the US, report says

<ul class="summary-list"><li>Chinese tech startups have scaled back testing of driverless cars in California, a BI analysis found.</li><li>It comes as Chinese autonomous vehicle companies face growing scrutiny from US lawmakers. </li></ul><p>China’s <a target="_blank" href="https://www.reuters.com/technology/chinas-didi-global-says-ride-hailing-app-had-systems-malfunction-2023-11-27/#:~:text=Didi%20is%20China's%20largest%20ride,million%20in%20the%20third%20quarter.">leading ride-hailing firm</a> has dropped out of a program that allows it to test self-driving vehicles on Californian public roads. </p><p>Ride-hailing giant Didi has withdrawn from California’s autonomous vehicle testing program, according to the California Department of Motor Vehicles, as several rival Chinese firms also scaled back their self-driving operations in the state.  </p><p>A DMV spokesperson confirmed to Business Insider that Didi’s American research arm withdrew from the program in February 2024, and is no longer authorized to test autonomous vehicles in California. </p><p>The company obtained a permit to test self-driving vehicles in California in 2018 as part of a wider push into autonomous technology.  </p><p>It operates an autonomous taxi service using vehicles built by other manufacturers in some parts of <a target="_blank" href="https://www.scmp.com/tech/article/3216954/chinese-ride-hailing-giant-didi-chuxing-unveils-robotaxi-concept-car-after-years-development"><u>Shanghai and Guangzhao</u></a><strong> — </strong>and recently announced plans to <a target="_blank" href="https://techcrunch.com/2023/04/14/chinas-didi-to-dispatch-robotaxis-24-7-in-2025-announces-trucking-service/"><u>produce its own range of driverless “robotaxis”</u></a> in China by 2025.</p><p>The move comes after a rocky few years for Didi. </p><p>The ride-hailing firm <a target="_blank" href="https://www.nytimes.com/2021/08/27/technology/china-didi-crackdown.html">grew rapidly and frequently clashed with Chinese regulators</a> in the years after it was founded in 2012.</p><p>Chinese authorities ultimately banned Didi from <a target="_blank" href="https://www.reuters.com/technology/china-ride-giant-didi-says-resume-new-user-registration-2023-01-16/#:~:text=Didi's%20regulatory%20woes%20then%20started,fine%20over%20data%2Dsecurity%20breaches.">taking on new customers until January 2023</a> after the company went public in the US in 2021, amid concerns over <a target="_blank" href="https://www.businessinsider.com/didi-to-delist-from-nyse-move-hong-hong-stock-exchange-2021-12">possible leaks of sensitive data</a>. </p><div type="image" title="Baidu self-driving car" height="1595" width="2500" msid="107691383" hostid="261" sizebytes="276786"></div><p>Didi is not the only Chinese company that appears to be scaling back autonomous vehicle testing in California, or pulling out entirely.</p><p>A DMV spokesperson said that five Chinese-based companies — Baidu Apollo, Pony.ai, WeRide, Didi, and AutoX — drove around 130,000 miles on public roads in California between December 2022 and November 2023. </p><p>That's a significant decline from the previous year, when Chinese autonomous vehicle companies conducted over <a target="_blank" href="https://www.reuters.com/business/autos-transportation/lawmakers-voice-concern-chinese-autonomous-vehicle-firms-collecting-us-testing-2023-11-16/">450,000 miles of testing</a>. Didi’s vehicles only drove 4,000 miles in 2023, per BI's calculations.</p><p>At least three other Chinese firms — Deeproute.AI, QCraft, and Pegasus Technology — which previously had licenses to test in the state, are no longer listed on the California DMV's site. </p><p>A Deeproute.AI spokesperson <a target="_blank" href="https://www.nbcnews.com/tech/tech-news/chinese-self-driving-car-testing-china-california-pony-ai-waymo-cruise-rcna102787">told NBC</a> that the company stopped testing in California in 2022.</p><p>Chinese-owned firms Nio, Black Sesame, and Xmotors.AI do have <a target="_blank" href="https://www.dmv.ca.gov/portal/vehicle-industry-services/autonomous-vehicles/autonomous-vehicle-testing-permit-holders/">permits to test autonomous vehicles</a> in California but did not record any testing activity in the last two years.</p><h2>'Souring US-China relations'</h2><p>Didi’s exit from California comes amid growing geopolitical tensions between the US and China. </p><p>US lawmakers have raised concerns that Chinese autonomous vehicle companies might be collecting sensitive data whilst testing their vehicles in the US, with several asking Chinese firms including Baidu and WeRide to <a target="_blank" href="https://www.reuters.com/business/autos-transportation/lawmakers-voice-concern-chinese-autonomous-vehicle-firms-collecting-us-testing-2023-11-16/"><u>detail their data collection practices last year</u></a>. </p><p>Republican House Representative Bob Latta described Chinese driverless cars as <a target="_blank" href="https://www.nbcnews.com/tech/tech-news/chinese-self-driving-car-testing-china-california-pony-ai-waymo-cruise-rcna102787"><u>“an immediate threat to our national security”</u></a> at a congressional hearing in July.</p><p>Autonomous vehicles themselves have also faced growing scrutiny in recent months after Cruise was <a target="_blank" href="https://www.businessinsider.com/cruise-recall-trouble-driverless-car-companies-california-waymo-beep-2023-11"><u>forced to recall its entire fleet</u></a> following an accident that saw a pedestrian get dragged underneath one of its vehicles.  </p><div type="image" title="Cruise robotaxi" height="1667" width="2500" msid="107691385" hostid="261" sizebytes="392040"></div><p>Such incidents have sparked a growing public backlash to the technology, with <a target="_blank" href="https://www.businessinsider.com/san-francisco-waymo-driverless-car-torched-crowd-2024-2"><u>a crowd setting a Waymo robotaxi on fire</u></a> in San Francisco over the weekend. </p><p>“[Didi’s exit from California] could very well be a reaction to souring US-China relations, but that's been an issue for years now, so I think it may have more to do with the recent issues with Cruise and seeing how California has reacted to it,” John Helveston, professor of engineering at George Washington University, told BI.</p><p>He said that public backlash toward autonomous vehicles in cities like San Francisco had increased the risks of negative PR for companies testing the technology on public roads.  </p><p>“Better to play it safe and experiment in less high-profile areas,” Helveston said. </p><p>Didi did not immediately respond to a request for comment from Business Insider, made outside normal working hours.  </p>

Chinese tech startups quietly stop testing driverless cars on Californian roads

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Waymo</span></p><p class="caption">A Waymo test vehicle.</p></div><p></p></div></div></p><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/waymo">Waymo</a> has received a permit to carry passengers in its self-driving vehicles in California, <a href="https://techcrunch.com/2019/07/02/waymo-is-now-allowed-to-transport-passengers-in-its-self-driving-vehicles-on-california-roads/">TechCrunch</a>'s Kirsten Korosec first reported.</li><li>But the Google spinoff cannot charge for rides, and the vehicles must have a safety driver behind the wheel.</li><li>Waymo is the <a href="https://www.cpuc.ca.gov/avcissued/">fourth company</a> to receive California's autonomous-vehicle pilot permit, after Zoox, Autox Technologies, and Pony.ai.</li><li>Seen by many experts as the leader in the autonomous-vehicle industry, Waymo launched the first<span> commercial, autonomous ride-hailing service in the United States, Waymo One, in parts of Arizona in 2018.</span></li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></strong><span></span></li></ul><p>Waymo has received a permit to carry passengers in its self-driving vehicles in California, <a href="https://techcrunch.com/2019/07/02/waymo-is-now-allowed-to-transport-passengers-in-its-self-driving-vehicles-on-california-roads/">TechCrunch</a>'s Kirsten Korosec first reported on Tuesday.</p><p>The <a href="https://www.cpuc.ca.gov/uploadedFiles/CPUCWebsite/Content/Licensing/autovehicle/WaymoAVPermit.pdf">permit</a>, which was issued by the California Public Utilities Commission on Tuesday, allows Waymo to carry passengers in autonomous vehicles on California highways, though the Google spinoff cannot charge them for rides, and the vehicles must have a safety driver behind the wheel.</p><p>Waymo did not immediately respond to Business Insider's request for comment.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/waymo-ceo-john-krafcik-explains-big-challenge-for-self-driving-cars-2019-4">Waymo CEO John Krafcik explains why a parking lot is one of the most difficult environments for a self-driving car</a></em></p><p>Waymo is the <a href="https://www.cpuc.ca.gov/avcissued/">fourth company</a> to receive California's autonomous-vehicle pilot permit, after Zoox, Autox Technologies, and Pony.ai. Seen by many experts as the leader in the autonomous-vehicle industry, Waymo launched the first<span> commercial, autonomous ride-hailing service in the United States, Waymo One, in parts of Arizona in 2018.</span></p><p><span>In <a href="https://www.navigantresearch.com/reports/navigant-research-leaderboard-automated-driving-vehicles">a 2019 report</a>, the consulting firm Navigant Research, </span><span>ranked Waymo first among companies developing self-driving technology in strategy and execution. And according to a report Waymo submitted to the California Department of Motor Vehicles, its safety drivers had to manually take over their test cars, because of safety concerns, about once every 11,000 miles in 2018 - <a href="https://www.theverge.com/2019/2/13/18223356/california-dmv-self-driving-car-disengagement-report-2018">the best rate</a> of any company testing autonomous vehicles on public roads in California.</span></p><p><span>The ability to carry passengers in its California test vehicles brings Waymo closer to being able to launch Waymo One in the state, though the company has not disclosed a timeline for when it hopes to do so. Waymo is also testing autonomous vehicles in Washington, Texas, Michigan, and Georgia.</span><span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/drifting-physics-explained-driving-fast-furious-2019-6">A professional drifter explains the physics behind drifting</a></h3>        <div>                    </div>    </div>

Waymo is now allowed to carry passengers in its self-driving cars in California

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>2018 Q1 MoneyTree Report</span></p><p class="caption">Funding for AI startups in the US hit an eight-quarter high in Q1 2018.</p></div><p></p></div></div></p><ul><li><strong>US Artificial intelligent startups raked in $1.9 billion in venture capital money in Q1 2018, up 29% from the quarter before. </strong></li><li><strong>AI accounted for 116 US deals, out of a total of 1,206 across tech sectors.</strong></li><li><strong>AI accounted for three mega funding rounds - investments over $100 million - out of 34 across the US.</strong></li><li><strong>Digital healthcare and cybersecurity also ranked alongside AI as the most notable Q1 funding trends.</strong></li></ul><p><br />Artificial intelligence startups in the US had a record quarter during the first three months of the year, raising $1.9 billion in venture capital across 116 deals, according to the 2018 Q1 MoneyTree Report <a href="https://www.cbinsights.com/research/report/venture-capital-q1-2018/">published on Wednesday</a>. That's 29% growth from the previous quarter. </p><p>Digital healthcare companies, by contrast, raised $1.4 billion in Q1, while cybersecurity companies raised just $528 million. </p><p>AI's strong Q1 numbers were underpinned by several mega deals in the space, including a $153 million series B for UiPath, a $112 million series A for Pony.ai, and a $100 million growth round for C3 IoT. </p><p>The flow of money into AI startups comes as sophisticated computing technologies such as machine learning, speech recognition and image recognition have<a href="http://www.businessinsider.com/microsoft-has-set-up-an-internal-ai-university-to-try-and-get-around-the-skills-shortage-2017-12"> graduated from the labs</a> and made their way <a href="http://www.businessinsider.com/microsofts-harry-shum-ai-could-change-the-world-just-as-much-as-pcs-2018-1">into the commercial market</a>. Many of these AI-based products have the potential to upend major industries, from automobiles to retail. </p><p>All of the established tech giants - Google, Facebook, Amazon and Microsoft - are <a href="http://www.businessinsider.com/facebook-amazon-google-artificial-intelligence-2016-12">spending heavily to bolster their AI capabilities</a>. But an explosion of small startups are also racing to develop new products and services that leverage artificial intelligence capabilities.</p><h2>The AI startups come from Romania, China and Silicon Valley</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Getty Images/Isaac Lawrence</span></p></div><p></p></div></div>UiPath is a Romania-grown and New York City-based "software robotics" company that uses AI to do digital busywork that humans don't necessarily want to do. UiPath's $153 million funding round, led by Accel Partners, capitalG and Kleiner Perkins Caufield &amp; Byers, valued the startup at $1.1 billion, <a href="https://www.uipath.com/press-room/uipath-raises-153-million-series-b">the company confirmed</a>. </p><p>Pony.ai, a Fremont, California and China-based self-driving car startup, raised its $112 million from Comcast Ventures, Legend Capital and Sequoia Capital China. </p><p>C3 IoT, a Redwood City, California-based predictive analytics company, raised its $100 million from Sutter Hill Ventures, The Rise Fund and TPG Growth.</p><p>Those three mega funding rounds were among the 34 rounds over $100 million in the US in Q1, which accounted for 34% of the total VC funding over the quarter.  </p><p>Two of the three largest funding rounds in AI were early stage, following the trend of 10% deal growth for investments of that stage.</p><p>Earlier seed stage investments in AI - used to get companies off the ground - accounted for just 26% of all funding rounds, down from 35% in the quarter before.</p><p>Across industries, funding for all US-based, VC-backed startups increased 4%, up to $21.1 billion across 1,206 deals in Q1. But that number is supported by the larger deals, as the total number of investments actually declined by 2% over the quarter. </p><p class="tagline"><a href="http://read.bi/ai-101-free"></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/video-dropbox-ceo-drew-houston-ipo-interview-2018-3">Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO</a></h3>        <div>                    </div>    </div>

US artificial intelligence startups had a record quarter and raised $1.9 billion of venture capital

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Michael Yang</span></p><p class="caption">Michael Yang, a managing partner at OMERS Ventures, is leading the expansion into the US.</p></div><p></p></div></div></p><ul class="summary-list"><li>The C$95 billion Canadian pension fund OMERS is expanding into Silicon Valley to make<a href="https://www.businessinsider.com/category/venture-capital"> venture investments</a> in <a href="https://www.businessinsider.com/healthcare-and-biotech-unicorns-going-into-2019-venture-capital-i2018-12">US startups</a>.</li><li><a href="https://www.omersventures.com/">OMERS Ventures</a> hired Michael Yang as a managing partner from Comcast Ventures to lead the effort. He's planning to staff up and open offices in San Francisco and Palo Alto.</li><li>US <a href="https://www.businessinsider.com/tech-startups-unicorns-2018-full-list-2018-11">venture capital funding</a> has been climbing, with almost $100 billion invested last year, an 18-year high.</li><li>Yang is planning to invest in industries like <a href="https://www.businessinsider.com/healthcare-and-biotech-unicorns-going-into-2019-venture-capital-i2018-12">healthcare</a>, transportation, and media.</li></ul><p>A huge Canadian pension fund is plotting to expand into <a href="https://www.businessinsider.com/category/silicon-valley">Silicon Valley</a>, seeking to place bets on hot US tech startups.</p><p><a href="https://www.omers.com/">OMERS</a>, which manages more than <a href="https://www.omers.com/Investing/How-We-Invest">C$95 billion</a> ($72 billion) on behalf of municipal workers in the province of Ontario, hired Michael Yang as a managing partner of OMERS Ventures to open the venture arm's first US offices in San Francisco and Palo Alto.</p><p><a href="https://www.omersventures.com/">OMERS Ventures</a> oversees about C$880 million invested in 35 companies, mainly in Canada. The goal of expanding to the Bay Area is to gain better access to investment opportunities in <a href="https://www.businessinsider.com/healthcare-and-biotech-unicorns-going-into-2019-venture-capital-i2018-12">innovative startups</a>, Yang said in an interview. OMERS itself has been opening offices outside Canada to broaden its investment opportunities.</p><p>"Just look at where the deals are, the dollars are, where the innovation is," he said. "As they look to deploy more dollars, invest in more and more interesting projects, they need to expand their geographic horizons."</p><h2>Venture capital investment in the US reached the highest level in nearly 2 decades last year</h2><p>Yang, 47, was previously a managing director at <a href="https://comcastventures.com/">Comcast Ventures</a> based in the Bay Area. Michelle Killoran of OMERS Ventures will also move to the Bay Area to help with the expansion, and the group plans to make additional hires over time, Yang said.</p><p><em><strong>Read more: <a href="https://www.businessinsider.com/venture-capital-healthcare-and-biotech-predictions-2019-2018-12">6 top VCs give their best 2019 predictions for healthcare, from a biotech correction to a 'shadow cash economy' stepping into the light</a></strong></em></p><p>Venture capital investment in the US is soaring, increasing valuations and raising questions about whether <a href="https://www.businessinsider.com/most-valuable-us-startups-failed-went-out-of-business-2018-11">another bubble</a> is emerging. About $99.5 billion in VC funds were invested last year in the US, the highest total since 2000, according to the <a href="https://www.pwc.com/us/en/industries/technology/moneytree.html">PwC/CB Insights MoneyTree report</a>. That helped boost the valuations of 53 startups to over $1 billion, making 2018 a record year for <a href="https://www.businessinsider.com/healthcare-and-biotech-unicorns-going-into-2019-venture-capital-i2018-12">unicorn creation</a>.</p><p>Yang said he's hoping that if funding becomes more scarce as other VCs pull back or market turbulence increases, that could create better opportunities for him to invest.</p><p>"There's been a lot of high burn rate companies that had access to easy capital that benefited from that and developed bad operating habits," he said. "A lot of people are hoping for a little bit of a pause in valuations and pricing."</p><h2>OMERS Ventures will target startups in fields like healthcare, transportation, and media</h2><p>Over time, Yang's group plans to focus its investments in five main areas: healthcare, transportation, the future of work, retail innovation, and new forms of media. The group has the flexibility to make investments ranging from seed stage (less than $1 million) to later-stage rounds where checks could be $40 million.</p><p>At Comcast Ventures, Yang invested in and served on the board of the healthcare startup Accolade, and more recently helped found financial wellness firm Brightside. Other investments included virtual reality firm Felix &amp; Paul Studios, autonomous vehicle company Pony.ai, and Precision Hawk, which helps businesses use drones.</p><p><em><strong>Read more: <a href="https://www.businessinsider.com/healthcare-and-biotech-unicorns-going-into-2019-venture-capital-i2018-12">16 billion-dollar startups revolutionizing healthcare that you should be watching in 2019</a></strong></em></p><p>Yang said he may bring the strategy of helping founders start companies -- rather than simply investing in startups -- to OMERS Ventures. OMERS Ventures already offers its startups services to help them grow.</p><p>Yang said he's mindful of the responsibility he's taking on to the roughly half-million people who rely on the OMERS plan to fund their retirements.</p><p>"We want to be good stewards of their future, of their capital," he said. "We want to make the right bets."</p><ul class="read-more-links"><li><strong>Read more:</strong></li><li><a href="https://www.businessinsider.com/how-vc-billions-fueled-the-rise-of-digital-media-2018-12" data-read-more-link="" data-e2e-name="read-more-link">Billions from VC companies like Lerer Hippeau and Lightspeed fueled the rise of digital media and stoked crazy expectations for growth - here's why insiders say that approach is killing companies</a></li><li><a href="https://www.businessinsider.com/venture-capital-healthcare-and-biotech-predictions-2019-2018-12" data-read-more-link="" data-e2e-name="read-more-link">6 top VCs give their best 2019 predictions for healthcare, from a biotech correction to a 'shadow cash economy' stepping into the light</a></li><li><a href="https://www.businessinsider.com/2019-was-supposed-to-be-a-banner-year-for-ipos-but-now-its-turning-into-a-shitshow-2019-1" data-read-more-link="" data-e2e-name="read-more-link">2019 was supposed to be a banner year for IPOs but now it's turning into a 'shitshow'</a></li><li><a href="https://www.businessinsider.com/tech-ipo-outlook-2019-2018-11" data-read-more-link="" data-e2e-name="read-more-link">Uber, Lyft, China, and more - top tech investment bankers share their biggest hopes and fears for IPOs in 2019</a></li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/exercise-workout-shape-routine-2016-12">An exercise scientist reveals exactly how long you need to work out to get in great shape</a></h3>        <div>                    </div>    </div>

You Searched For "Ponyai" and got 6 results

China gets its first commercial self-driving taxi service after two years of testing

Rahul Verma

China crackdown leads self-driving tech startup Pony.ai to put off plans to list in the US, report says

Carla Mozée

Chinese tech startups quietly stop testing driverless cars on Californian roads

Tom Carter

Waymo is now allowed to carry passengers in its self-driving cars in California

Mark Matousek

US artificial intelligence startups had a record quarter and raised $1.9 billion of venture capital

Becky Peterson

A $72 billion Canadian investor is poised to start making venture capital bets in Silicon Valley

Zachary Tracer

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