Zoox, a once-secretive self-driving , is closing a $ raise at a $3.2 post-money , Bloomberg Businessweek reports. Prior to the deal, was valued at $2.7 billion, confirmed to . The round, led by Mike Cannon-Brookes of Grok Ventures, brings its total amount of funding to $800 million.

Zoox’s plan, according to Bloomberg, is to publicly deploy autonomous vehicles by 2020 in the form of its own ride-hailing service. The cars themselves will be all-electric and fully autonomous. Meanwhile, ride-hail companies like Uber and Lyft are also working on autonomous vehicles, as well as a number of other large players in the space.

Zoox, which turned four years old this month, is a 500-person company founded by Tim Kentley-Klay and Jesse Levinson. In the meantime, head over to Bloomberg for the full rundown.

Source link https://techcrunch.com/2018/07/17/self-driving-car-startup-zoox-is--500-million-at-a-3-2-billion-valuation/


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