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.