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

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

04/15/21, 3:21 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsan francisco
Money raised
$2.75 billion
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 Info

Company
Cruise
Location
san francisco, california, united states
Additional Info
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.