GM has picked up Strobe in an acqui-hire of the 11-member engineering team behind the startup’s LiDAR technology. The deal gives GM a crucial part of the autonomous driving puzzle: an inexpensive way for vehicles to see better in challenging conditions.
Founded in 2014, Strobe designs single-chip sensors that use laser light to measure distances. The Strobe team will join GM's Cruise Automation division headed by Kyle Vogt. The unit has benefited from its $1 billion acquisition by GM last year, asserting in September that, by deploying GM's capacity for mass production, it can bring autonomous vehicles to market in a matter of months.
Peter Lynch was one of the best growth investors of all time. As the Magellan Fund manager at Fidelity Investments between 1977 and 1990, he averaged a 29.2% annual return. Q1 2021 hedge fund letters, conferences and more The fund manager's investment strategy was straightforward. He wanted to find growth companies and sit on them Read More
VC activity in the space has reached new heights in 2017, with 44 deals accounting for $793.9 million in capital invested, per the PitchBook Platform. That figure is partially driven by a $159 million Series B for Nauto, the creator of a data platform for autonomous vehicles, which was led by SoftBank and Greylock Partners.
Check out more of our coverage on autonomous driving technology.
Article by PitchBBook