SoftBank, Toyota and Denso are expected to be among the investors supplying $1bn for Uber's autonomous driving division when it spins off at a valuation of about $7.3bn.
Uber Advanced Technologies Group (ATG), the self-driving software division of US-based on-demand ride service Uber, is looking to raise $1bn round from investors including telecommunications conglomerate SoftBank, the Wall Street Journal reported yesterday.
Carmaker Toyota Motor and automotive parts supplier Denso are also set to take part in the round, which would value the autonomous vehicle unit at $7.25bn, and which is expected to be officially announced within days.
Uber operates a ride hailing platform with a presence in more…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
