Hyundai Motor Group has invested in Aurora, the latest sign that the scope of the year-old partnership between the automaker and self-driving car startup has expanded.

Aurora and Hyundai didn’t disclose terms of the investment. However, picking part new details of its Series B funding round and speaking to sources within the industry, Hyundai’s investment is below $30 million.

Aurora announced in February that it had raised more than $530 million in a Series B round that was led by Sequoia Capital and included “significant investment” from Amazon and T. Rowe Price Associates. Since then, that Series B round has expanded to more than $600 million with new investment from Hyundai, Baillie Gifford and the Canada Pension Plan Investment Board, TechCrunch has learned.

To date, Aurora has raised more than $700 million, a figure that includes its seed round Series A round of $90 million.

Hyundai’s stake in Aurora is an affirmation of the company and their working relationship. But it’s just one measure. What Aurora is actually doing matters as much.

When the partnership was first announced in January 2018, the details of the relationship were scant. New information reveals that Aurora has been working with Hyundai and Kia for the last year …read more

Source:: TechCrunch

      

(Visited 2 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *