Zoox in talks with SoftBank to account self-driving cars

Autonomous automobile startup Zoox is in talks with Japanese investment organisation SoftBank to lift some-more funding. We’ve reliable a news, that was initial reported by Axios. 

We’re conference a discussions are in a early stages and zero has been finalized, though that SoftBank has been meddlesome in Zoox for a while. The startup is also articulate to other unnamed intensity investors.

Zoox currently has a gratefulness above $1.5 billion and formerly lifted collateral from Draper Fisher Jurvetson, Lux Capital and others. Axios is stating that a SoftBank conversations have been in a $3 billion to $4 billion gratefulness range.

Building vehicles is a capital-intensive business, so it’s no warn that Zoox would find some-more funding. And SoftBank’s Vision Fund has about $100 billion to invest, so a organisation is looking for opportunities to write large checks.

Zoox has been sensitively building self-driving cars, pity small fact about a plans. We’re conference that a organisation has explored formulating an Uber-like on-demand service.

The competition to build self-driving cars has been heating up. Uber and Alphabet’s Waymo are among a many companies that have been building prototypes.

Zoox was founded in 2014 by Jesse Levinson, who came from Stanford’s self-driving automobile group, and Tim Kentley-Klay, an businessman from Australia. The Menlo Park-based startup has been employing employees from companies like Tesla, Alphabet and Apple.

We’ve reached out to Zoox for comment.

Featured Image: Tomohiro Ohsumi/Getty Images

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Posted by on Sep 11 2017. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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