GM's autonomous driving spinoff, Cruise Automation, has received $1.15bn from investors including SoftBank Vision Fund and Honda as well as its parent company.
US-based autonomous driving software developer Cruise Automation secured $1.15bn in funding yesterday from investors including General Motors (GM), the automotive manufacturer that spun off the company.
Fellow carmaker Honda and telecommunications firm SoftBank’s Vision also participated in the round, which also featured investment manager T. Rowe Price Associates, and which valued it at $19bn post-money.
Cruise is working on software that will enable driverless cars to process data from their sensors and adapt accordingly, particularly in electric vehicles such as…
