WM Motor raises RMB3 billion in Baidu-led series C round financing
by Evelyn 2019-03-11
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China-based EV startup WM Motor announced on March 8 a completion of a series C round financing that raised a total of RMB3 billion, which is expected to further elevate the company's valuation. The latest fundraising is led by Baidu and involves other investors such as Linear Venture and Taihang Industrial Fund. The capital raised this time will be used to research and develop technologies and improve users' experience. Up until now, the startup has cumulated nearly RMB23 billion in all rounds of fundraising.