Funding round
WM Motor Series C
WM Motor, which works in electric vehicle manufacturing in Shanghai, raised $446M in a Series C round announced on 8 Mar 2019, led by Baidu. 3 firms took part, 1 of them already investors. It is WM Motor's first venture round on record.
$446M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
WM Motor did not disclose a valuation in this round. It is WM Motor's first venture round on record, 4 years after it was founded in 2015. It is 75% of the $598M WM Motor has raised in the venture rounds on record. WM Motor raised again 32 months later: a Series D round of $152M in Nov 2021.
WM Motor's funding rounds
WM Motor has 2 venture rounds on record. This one is highlighted.
- Series C this round 8 Mar 2019, led by Baidu $446M
- Series D 30 Nov 2021 $152M
Investors
Who put money in
Baidu led the round with 2 other firms. Baidu had backed WM Motor before.
Lead investor
- Baidu existing investor
Also in the round
- backs 21 venture-backed companies new investor
- Taihang Industrial Fund new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
7 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $52M, and this round was 8.7 times the median. The closest in time, other companies' Series C rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CarDekho Automobile Dealers & Manufacturers | 1 Aug 2019 | $129M | not disclosed | India Mobility Holdings |
| Automobile Dealers & Manufacturers | 5 Sep 2018 | $100M | not disclosed | not named |
| CARS24 Automobile Dealers & Manufacturers | 18 Jul 2018 | $50M | not disclosed | Sequoia Capital |
| CARSOME Automobile Dealers & Manufacturers | 1 Dec 2019 | $50M | not disclosed | MUFG Innovation Partners and Daiwa PI Partners |
| CARSOME Automobile Dealers & Manufacturers | 11 Dec 2019 | $50M | not disclosed | MUFG Innovation Partners and Daiwa PI Partners |
| Automobile Dealers & Manufacturers | 1 Jan 2020 | $52M | not disclosed | not named |
| Guazi Used Car Automobile Dealers & Manufacturers | 1 Mar 2018 | $818M | not disclosed | Tencent Holdings |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did WM Motor raise in its Series C round?
WM Motor raised $446M in its Series C round, announced in Mar 2019.
Who led WM Motor's Series C round?
Baidu led it, with Linear Capital and Taihang Industrial Fund.
What was WM Motor's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Automobile Dealers & Manufacturers?
7 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $52M, and this round was 8.7 times the median.
Did WM Motor raise again after this round?
Yes: a Series D round in Nov 2021 of $152M.