Zoox, driverless startup, taking advantage of sky-high $3.5B valuation

It was just last week that new, high valuations were reported for driverless units. Included in these reports was startup Zoox, valued then at $3.5B.

Time to cash in, apparently:

Autonomous vehicle company Zoox has authorized the sale of up to $630 million in new shares. A full funding could value the company at up to $3.43 billion. The Foster City, CA-based company has previously brought in almost $300 million of equity funding, garnering a valuation of $1.55 billion in 2016. Investors in Zoox include Lux Capital, DFJ and AID Partners Capital. Zoox was founded by Australian entrepreneur Tim Kentley-Klay and Jesse Levinson, who was previously part of Stanford’s autonomous technology unit.

The booming market for driverless companies keeps booming.

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