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Ford-Backed Autonomous-Car Software Developer Raises $16 Million
Cambridge, Mass.-based startup nuTonomy Inc., a developer of control software for self-driving cars, has raised $16 million in funding to help it launch an autonomous taxi service in Singapore as soon as this autumn, says The Wall Street Journal.
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Cambridge, Mass.-based startup nuTonomy Inc.—a developer of control software for self-driving cars—has raised $16 million in funding to help it launch an autonomous taxi service in Singapore as soon as this autumn, says The Wall Street Journal.
The new funding was led by Highland Capital Partners LLC, a venture capital firm also based in Cambridge, and included the backing of Singapore’s economic development agency. In January the three-year-old startup attracted funding in January from Fontinalis Partners, the Detroit-based venture capital firm co-founded by Ford Motor Co. Chairman Bill Ford Jr.
Singapore is aggressively promoting automatic-car testing and has indicated it will make significant investments in infrastructure to support the technology. The city-state currently is evaluating self-driving Mitsubishi iMiEV electric sedans equipped with nuTonomy’s software on public roads.
The Journal says nuTonomy is likely to add specially equipped Renault Zoe electric cars when it introduces self-driving taxis in Singapore. The company also is testing its technology in Michigan.
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