Gm’s Cruise To Raise $1.35B More From Softbank As It Readies Robotaxis
PRIVATEFeb 02, 2022
Amount Raised
$1.35 Billion
Round Type
Funding Round
San Francisco
Description
Self-driving tech firm Cruise on Tuesday said SoftBank Group Corp’s Vision Fund has agreed to invest an additional $1.35 billion through a second tranche, as it works to launch a commercial ride-hailing service in San Francisco.
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Company Information
Company
Cruise
Location
San Francisco, California, United States
About
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.
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San Francisco