Self-driving company Cruise has raised $2.75 billion in a new funding round that included companies like Walmart.
While specifics about the funding round, such as those companies that invested, are still thin on the ground, they boost the startup’s valuation to over $30 billion.
Read Also: GM-Based Honda And Acura Electric Crossovers In The Works
“We are focused on our path to commercialization right now but the IPOs happening in the space right now are a great indication of the strength of the industry and the opportunity self-driving presents,” a Cruise spokeswoman said in a statement to Reuters.
“Cruise is executing a global strategy with the right partners,” added Brulte & Co consultancy president Grayson Brulte. “At the end of the day it will come down to who can cut the best deals which long-term generate revenue and profits.”
Word about this latest funding round comes just a month after Cruise announced that it will acquire self-driving startup Voyage, the latest instance of consolidation in the autonomous vehicle space. Most of Voyage’s 60 employees are expected to join Cruise as the company readies a robotaxi service in San Francisco.
In January, Honda confirmed that General Motors and Cruise will assist it in developing a self-driving mobility service in Japan. The current plan is for Cruise to send a number of self-driving test vehicles to Japan later this year. Honda will ultimately use the Cruise Origin when it launches the mobility service at scale.
