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Zoox, The Self-Driving Car Company That’s Worth $3.2 Billion

Zoox, The Self-Driving Car Company That’s Worth $3.2 Billion

The four-year-old tech startup Zoox is getting us that much closer to self-driving cars.

You have probably heard of Google’s self-driving car project, Waymo but you might not have heard of Zoox, the startup that just closed on a $500 million deal - now giving it a $3.2 billion post-money valuation. Bloomberg Businessweek reported that prior to the deal, Zoox was only valued at $2.7 billion. Mike Cannon-Brookes of Grok Ventures, who led the round, contributed to helping the company raise a now total of $800 million in funding.

Tim Kentley-Klay and Jesse Levinson founded the now 500-person, California based company back in 2014. Zoox has an ambitious goal of deploying fully autonomous vehicles by 2020, which would evolve into a fleet of all-electric cars for its own ride-hailing service. Other big players in the game, like Lyft and Uber, are also making strides to develop their own fleet of self-driving cars, which would eliminate the need of drivers altogether. The picture below depicts the three generations of the self-driving vehicles (VH1, VH4, and VH5) at Zoox manufacturing headquarters in Foster City, California.

Photo courtesy of  Bloomberg Businessweek

Photo courtesy of Bloomberg Businessweek

For a deeper look into what Zoox is doing, be sure to take a second to watch the video below.

Let us know how you feel about self-driving cars in the comments section below. And be sure to subscribe to The Sitch for more updates on cool robot cars and other entertaining reads.

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