Startup

Self-driving car startup Zoox is raising $500 million at a $3.2 billion valuation

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Zoox, a once-secretive self-driving car startup, is closing a $500 million raise at a $3.2 billion post-money valuation, Bloomberg Businessweek reports.

Prior to the deal, Zoox was valued at $2.7 billion, Zoox confirmed to TechCrunch.

The round, led by Mike Cannon-Brookes of Grok Ventures, brings its total amount of funding to $800 million.Zoox 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.




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