(Bloomberg) -- General Motors Co. and Microsoft Corp. are leading a $2 billion investment round in self-driving car startup Cruise LLC in a deal that will bring the software giant’s cloud and edge-computing capabilities to the venture.
The new funds will raise Cruise’s post-investment valuation to an estimated $30 billion, up from $19 billion when T. Rowe Price Associates Inc. invested in the company in 2019, Cruise said in a statement. Cruise partner Honda Motor Co. and other institutional investors are also participating in the new round.
The partnership with Microsoft gives Cruise, which is majority owned by GM, a major software player in its corner. That will help the company compete with Waymo, which has access to the software capabilities of parent Alphabet Inc.
Cruise will be able to use Microsoft’s Azure cloud-computing platform to manage its self-driving vehicle network. Azure will handle data and mapping, as well as enable cars to communicate with Cruise’s back office and customer-facing app for ride-hailing. It’s a vital piece of software infrastructure that Cruise needs to build its planned commercial robotaxi service.
“Our mission to bring safer, better and more affordable transportation to everyone isn’t just a tech race - it’s also a trust race,” Dan Ammann, Cruise’s chief executive officer, said in a statement. “Microsoft, as the gold standard in the trustworthy democratization of technology, will be a force multiplier for us as we commercialize our fleet of self-driving, all-electric, shared vehicles.”
Cruise is preparing to start charging fares for its service in San Francisco later this year.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
