Cruise announced that several institutional investors and Walmart have joined its previously announced investment round, bringing the total capital raised to $2.75 billion at a valuation of more than $30 billion.
“Self-driving cars will make transportation safer, cleaner and more accessible for everyone. Making this happen requires a clear mission, world-class talent, great partners and a lot of capital” said Cruise CEO Dan Ammann.
In November 2020, Cruise and Walmart announced a partnership to launch a self-driving delivery pilot leveraging Cruise’s all-electric fleet in Phoenix, AZ.
“This investment is a marker for us – it shows our commitment to bringing the benefit of self-driving cars to our customers and business,” said John Furner president and CEO, Walmart U.S. “We’re excited to join Cruise’s already impressive partner and investor ecosystem with the likes of GM, Honda and Microsoft as we work towards pioneering this emerging technology.”
Founded in 2013 in San Francisco, Cruise is building the world’s most advanced self-driving vehicles to safely connect people with the places, things, and experiences they care about. The company has hired over 1,600 talented individuals and opened additional offices in greater Seattle, Pasadena, and Phoenix.
Cruise has raised $9.25B+ from General Motors, Honda, Microsoft, Softbank, T. Rowe Price, and others. Through partnerships with General Motors and Honda, the startup claims to be the only self-driving company with fully integrated manufacturing at scale, building all-electric, zero-emission, self-driving vehicles that will help save lives, reimagine cities, reduce carbon pollution, redefine time in transit, and restore freedom of movement for individuals who live in dense urban settings.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.