Pony.ai, an autonomous driving company, has raised a new Series C investment round led by Ontario Teachers' Pension Plan Board's (Ontario Teachers') Teachers' Innovation Platform (TIP).

The initial $267 million close on this round also had participation from existing partners Fidelity China Special Situations PLC, 5Y Capital (formerly Morningside Venture Capital), Clearvue Partners, and Eight Roads, among others, which brings the company's accumulated raised capital to over $1.0 billion and post-money valuation to over $5.3 billion.

Pony.ai is a technology company building safe and reliable autonomous driving technology. Founded in late 2016, Pony.ai has been a pioneer in autonomous mobility technologies and services across the U.S. and China, spearheading public-facing Robotaxi pilots in both markets.