Jeff Bezos-led online retail giant, Amazon reportedly is in advanced talks to buy self-driving startup Zoox Inc. The move is expected to expand the e-commerce giant’s reach in autonomous-vehicle technology
According to a Wall Street Journal report, the deal will value Zoox at less than the $3.2bn. The self-driving startup has achieved a similar valuation in a funding round in 2018.
As per the report, the agreement may be weeks away and the discussions could still fall apart.
Amazon has stepped up its investment in the self-driving car sector in order to tap the market of the future. Earlier, the company had participated in a $530mn funding round early last year in self-driving car startup Aurora Innovation Inc.
However, none of the two companies have given any confirmation regarding the development of yet.
According to Crunchbase, Zoox is a robotics company that aims to create autonomous mobility. Operating at the intersection of design, computer science, and electro-mechanical engineering, Zoox is a multidisciplinary team working to imagine and build an advanced mobility experience that will support the future needs of urban mobility for both people and the environment.
Zoox was founded in 2014 by Jesse Levinson and Tim Kentley-Klay in the San Francisco Bay Area. So far, the company has raised $995mn in funding across four fundraising rounds.
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