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Hyundai invests nearly $1 billion in self-driving startup Motional, obtaining majority stake

May 02, 2024•about 1 year ago

Amount Raised

$923 Million

BostonAutomotiveTransportation

Investors

AptivHyundai

Description

Hyundai has agreed to invest close to $1 billion in self-driving startup Motional, acquiring a majority stake in the company. The investment is intended to provide the necessary capital for Motional to continue its operations and development of autonomous vehicle services.

Company Information

Company

Motional

Location

Boston, Massachusetts, United States

About

Motional is a self-driving startup that originated as the Boston-based autonomous vehicle startup nuTonomy in 2013. It has been involved in developing robotaxi services and autonomous vehicles for various cities.

FundzWatch™ Score

61
Medium Activity

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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