Zoox, an autonomous technology company from the United States, is currently in advanced talks with several potential partners and investors for the company's next funding round.
Why it matters: The self-driving car developer has been especially quiet for the past year or so, and venture capital sources say the company has struggled to raise capital to fund its ambitious plans.
- Last October, it raised $200 million in convertible note funding, which it said it would fold into an upcoming Series C round that has yet to occur.
Yes, but: CEO Aicha Evans, a former Intel executive marking her one-year anniversary with Zoox, said, "This year is a huge year. We are finally showing the world what we've been up to."
Zoox is more ambitious than most AV tech startups, with plans to operate its own ride-hailing service using a purpose-built robotaxi currently under development.
- The bi-directional electric taxi, with four-wheel steering and active suspension, will be revealed later this year, Evans said in an interview.
- It has already passed federal crash safety tests and durability testing, she added.
- Early commercial pilots will begin in 2021.
Where it stands: Zoox continues to develop its self-driving technology using Toyota SUVs on some of the most difficult streets of San Francisco.
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