Self-Driving Car Startup Zoox Raises $200 Million on $1 Billion Valuation

Posted on July 1, 2016

An auto startup named Zoox has raised $200 million on a huge $1 billion evaluation according to TechCrunch. Zoox has been working quietly on driverless cars for several years now. Not much is known about its product.

TechCrunch says Zoom is competing with companies like Alphabet (Google) and Cruise Automation (GM). Apple has also been rumored to be in the driverless car game.

These Zoox images was part of a series of concept photos from the L.A. Auto Show in 2013. The concept car is called The Boz. An article about The Boz can be found here. It says Zoox sees autonomous technology as replacing today's cars.

An earlier story in Bloomberg said Zoox was seeking about $252 million. It lists twelve companies that have already received permits to drive autonomous vehicles in California. The bottom line is money is pouring into driverless cars and it is just a matter of time before they become commonplace. The TechCrunch article notes that some see a future where a service like Uber uses most or all automated cars.

Update: Here's a Zoox vehicle on the streets of San Francisco.

More News from Shoppers Shop