Formally known as an autonomous driving startup, Aurora announced that it has secured over USD 530 million in Series B funding round. The funding round led an American Venture Capital firm Sequoia, along with Amazon and T. Rowe Price Associates. With this financing round, Aurora’s valuation has been now shoved to over USD 2.5 billion.
In the statement, the company noted that Amazon’s unique expertise, capabilities, and perspectives will be valuable for the company as Aurora drives towards its mission. The company is also looking ahead to having T. Rowe Price with Aurora on this journey as a long-term capital partner. In this funding round several other partners include, Shell Ventures, Lightspeed Venture Partners, Geodesic, and Reinvent Capital, as well as earlier investors Greylock and Index Ventures, who made spending worth USD90 million last year in Aurora. The company, in total, has now raised a sum of USD620 million in funding over two rounds. Established in 2017 by Head of Google’s pioneering autonomous car program, Chris Urmson, Aurora has made incredible achievements in a short term of 2 years that it has stayed in the marketplace. The company now has new offices in Palo Alto, San Francisco, and Pittsburgh in the US. Moreover, two of the world’s largest automakers, Volkswagen and Hyundai have offered their self-driving car software to Aurora, besides Chinese electric vehicle startup Byton.
As noted by Aurora partner and board member, Mike Volpi, Aurora is poised to win the autonomous driving market. He further noted how the company has a competitive advantage in the marketplace because of its status as a self-regulating company and the fact that it is a full-stack provider to the autonomous vehicle market.