IDG Capital has led a $500 million Series A funding round in HT Aero, an urban air mobility (UAM) company and an affiliate of Chinese electric vehicle manufacturer Xpeng. The company will use the funds to acquire top-tier talent, advance R&D and “continue to gain airworthiness provision and certification” as it advances toward the next generation of its vehicles. “Our next-generation model will be a fully integrated flying vehicle and automobile, designed for both low-altitude air travel and road driving,” said Deli Zhao, founder and president of HT Aero.

Autonomous driving company Pony.ai announced that it has been authorized to conduct driverless tests on public roads in Beijing. The pilot zone covers major subway stations, residential areas, and tech parks. Since the beginning of this year, Pony.ai has obtained unmanned test licenses or permits in California, Guangzhou and Beijing, making it the first company to obtain unmanned test licenses for autonomous driving in these three cities. IDG Capital was a seed investor in Pony.ai and joined the company’s $112 million Series A funding round in 2018.