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Self-Driving Startup Cruise Raises $2.75 Billion From Walmart, Others

Apr 15, 2021•over 4 years ago

Amount Raised

$2.75 Billion

San Francisco

Description

Self-drive automaker Cruise, backed by General Motors, on Thursday said it raised $2.75 billion in its latest funding round with additional investment from Walmart and others, taking the startup's valuation over $30 billion.

Company Information

Company

Cruise

Location

San Francisco, California, United States

About

Cruise, majority-owned by General Motors, has strong financial support from its investors including Honda and Microsoft and is not planning to raise more funds from the capital markets in the near term, GM chief executive Mary Barra said. Softbank’s investment will help Cruise “quickly scale this technology” across San Francisco and into more communities, Vogt said in a blog posting.Cruise “There is still so much that can be accomplished with a frictionless environment between Cruise and GM,” she said during a conference call.