Mexican Media Brands
Aurora Lands $530 Million in Funding
Silicon Valley-based self-driving car-startup Aurora Innovation Inc. has landed $530 million in its second round of funding.
Share
Silicon Valley-based self-driving-car startup Aurora Innovation Inc. has landed $530 million in its second round of funding.
The investment is led by Sequoia Capital, a California-based venture capital firm that specializes in tech startups. Among the other investors are Amazon.com and mutual fund T. Rowe Price.
Following the investment, analysts value Aurora at more than $2.5 billion. The company was founded in late 2016 by former executives from Tesla, Uber and Google’s self-driving car program.
As part of the investment, Sequoia CEO Carl Eschenbach will become a board member at Aurora. Aurora, which specializes in machine learning and artificial intelligence, has development deals with Hyundai, Volkswagen and China EV startup Future Mobility (Byton).
Amazon, which is starting to use automation at its warehouses and last-mile deliveries, says Aurora could help accelerate these efforts. T. Rowe Price is Tesla’s second-largest shareholder after CEO Elon Musk.
RELATED CONTENT
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
