The note is the initial step in closing the company’s Series C funding round that’s expected to be finalized later this year or early 2020, according to source familiar with the situation who added, “In terms of investors, we are excited to have both existing and new investors partner with us on this.”
Based in Foster City, Calif., Zoox was founded in 2014, taking on the ambitious mission of developing and building autonomous vehicles from the ground up, rather than applying technology to vehicles built by established automakers or other companies. For example, Alphabet Inc.‘s autonomous vehicle unit Waymo has deals with Fiat Chrysler Automobiles and Jaguar Land Rover to test its software on custom made vehicles.
According to a recent post on its Linkedin page, Zoox is expanding testing of its robocars beyond California’s San Francisco Bay Area to Las Vegas, saying, “Alongside our beloved SF, Vegas will serve as an anchor market for us to rigorously test and validate, as we continue to create autonomous mobility from the ground up.”
In August 2018 Zoox unexpectedly fired co-founder and CEO Tim Kentley-Klay, just one month after it raised $465 million, boosting its bankroll for developing electric robotaxis. The company finally hired a new CEO in January, naming Intel’s former chief of strategy, Aicha Evans, to the post.
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