Cruise becomes the first driverless passenger service to receive a permit to operate within California.
Robotics investments recap: May 2019
May 2019 might have been a slow month for robotics transactions, but investors are still bullish on robots, autonomous vehicles, and AI for supply chain, healthcare, and food applications.
GM Cruise raises $1.15B for self-driving cars
Cruise, the San Francisco-based autonomous vehicle division of General Motors (GM), raised another $1.15 billion in funding, which increased Cruise’s valuation to $19 billion. The investors in the round include T. Rowe Price Associates, Honda, Softbank Vision Fund and GM. Cruise says it has raised $7.25 billion in capital in the last year. In October 2018,…
Softbank Vision Fund to invest $2.25B in GM’s Cruise
The Softbank Vision Fund is investing $2.25 billion in GM Cruise Holdings LLC, which is primarily made up of Cruise Automation, the driverless car developer GM acquired in 2016 for nearly $1 billion. When the deal closes, Softbank Vision Fund, an affiliate of Japan’s SoftBank Group Corp., will own a 19.6 percent stake in GM…