FMC Cayman announced that it expects to receive $500 million in funding from China FAW Group Corporation, Nanjing Municipal Government and other investors

FMC Cayman announced that it has entered into an investment agreement to receive $500 million in its Series C round of funding in August, 2019. The transaction will be co-led by returning investor China FAW Group Corporation and an industry investment fund managed by Nanjing Municipal Government and will include participation from other investors. Post to the transaction, the funding till date of the company will be more than $1,000 million.

The round will be raised at post-money valuation will be $4,000 million.