Autonomous Car Startup Zoox Joins Unicorn Ranks With Latest Raise by PitchBook
Zoox, a company developing fully autonomous vehicles and the supporting ecosystem necessary to bring them to market, has reportedly secured $200 million at a $1 billion valuation. TechCrunch reports that Lux Capital and DFJ each contributed capital to the round.
With this latest funding and the recent acquisition of Cruise Automation by General Motors (NYSE: GM) for $1 billion, don’t be surprised to see more autonomous vehicle startups pop up. Although there are huge players in the game with large head-starts—Google and Uber come to mind—the technology has massive potential to disrupt a variety of industries, making it not only an exciting space for founders to try and innovate but also an attractive place for VCs to invest.