Teacher Insights: Chocolate, the Right Food to Improve Your Brain Power  |  Leadership Instincts: Strong Bricks Can Be Made from Bio solids and Clay  |  Parent Interventions: Order of Birth in Family Has Influence on Intelligence  |  Cover Story: MIND THE NET  |  Technology Inceptions: Oppo’s 10X Lossless Hybrid Zoom Smartphone Camera Tech to Enter Mass Production   |  Technology Inceptions: AI Can Help Improve Understanding of Earth Science  |  Cover Story: THE CYBER BRAIN  |  Science Innovations: New treatment for osteoporosis   |  Technology Inceptions: SpaceX Protests NASA Launch Contract Award  |  Science Innovations: Cost-efficient catalysts  |  Technology Inceptions: NASA to Launch New Space Telescope in 2023 to Explore Origins of Universe  |  Leadership Instincts: Social Media Cannot Cause Depression  |  Parent Interventions: Maternal Grandmothers Can Raise Survival Rate of Grandchildren  |  Teacher Insights: Waking Up Early No Guarantee for Success  |  Teacher Insights: Ask your girl child to do science, not become scientist  |  
  • Pallikkutam Magazine
  • Companion Magazine
  • Mentor
  • Smart Board

February 08, 2019 Friday 01:40:41 PM IST
Amazon Invests in Self-Driving Car Startup Aurora

A self-driving car technology startup founded by former Google, Tesla and Uber executives said Thursday it secured $530 million in new funding that included a "significant" investment from Amazon.

The funding round for Aurora Innovation led by Silicon Valley venture capital powerhouse Sequoia reportedly valued the startup launched just two years ago at more than $2.5 billion (roughly Rs. 17,800 crores).

"We are always looking to invest in innovative, customer-obsessed companies, and Aurora is just that," Amazon said in response to an AFP inquiry.

"Autonomous technology has the potential to help make the jobs of our employees and partners safer and more productive, whether it's in a fulfilment centre or on the road, and we're excited about the possibilities."

Aurora is developing the technology for autonomous vehicles, but leaving the making of cars to other companies and said in a blog post it wants to work alongside, rather than compete with, leading automakers.

The company, which has operations in Silicon Valley and Pittsburgh, plans to use the influx of cash to speed development of its "Aurora Driver" technology and strengthen its team and network of partnerships.

Early last year, it announced its first strategic partnership with Volkswagen Group to bring self-driving cars to market.

Major automobile companies along with technology giants such as Google, Tesla, and Uber have been investing in self-driving tech, touting the safety benefits and the potential for services that let people summon automated rides on demand.

Aurora is led by Chris Urmson, former head of the Google self-driving car initiative.

Comments