Skip to main content

Waymo's self-driving vehicles have driven 8 million miles on public roads

image credit : Waymo

Alphabet's Waymo autonomous driving unit has now hit another main milestone as the company's lead John Krafcik just recently made known in an interview with Nevada Governor Brian Sandoval at the National Governors Association conference held in the city of Santa Fe, New Mexico.

This statistic amounts to a figure of about 25,000 miles driven everyday by Waymo which makes it vehicle network way more experienced and being ahead of several competitors in the autonomous driving space.

Last year November, Waymo announced its vehicles had clogged over 4 million miles on the road with this number now doubling in less than a year and also increasing by 1 million in the span of a month between June and July which counts a very good record as Waymo continues to make efforts to expand its vehicle fleet to boost up its autonomous efforts.





Waymo has self-driven 8 million miles on public roads, now at a rate of 25K miles per day. This real-world experience, plus over 5 b…

Autonomous driving startup Pony.ai gets $ 102 million second funding round at close to $1 Billion Valuation


image credit : Pony.ai

Chinese self-driving startup Pony.ai which was founded with the mission of building safe and better reliable autonomous vehicle technology and is noteworthy for its self driving platform which powers China's fully first self driving vehicle fleet has now raised a new round of funding totaling $102 million co-led by ClearVue Partners, Fidelity's VC arm Eight Road and saw participation from several others including Hong Kong businessman Adrian Cheng, Sequioa Capital, Delong Capital, Redpoint Ventures China amongst other firms who contributed to this funding round.

This investment brings the total sum raised by Pony.ai to $214 million after having raised $112 million January this year in a round led by Morningside and Legend Capital for the just 17 month old startup.

This investment round also choots Pony.ai into the huge valuation group as the company states that this funding round gives it close to a $1 Billion post-money valuation.





Since its first funding round early this year, Pony has tripled in size and also recently secured a license for autonomous vehicle testing in the city of Beijing which represents quite a very good record for the roughly 2 year old startup.

Pony is also very notable for being founded by the duo of James Peng who was the former Chief Architect at major Chinese technology company Baidu who also stands as a main player in China's self driving space and also Tiancheng Lou who previously was a team member at Google X's autonomous car project which later became Waymo and stands as the current global leader in the self-driving space.

This investment is an addition to the vast number of investments which have been made in the automous vehicle industry as several companies race to grasp the rapidly growing market which stands as the major future of transportation and is predicted to dominate the transportation sector by the year 2030.

The self driving technology industry has seen so many companies backed by huge capital come out to play a major role in the market which includes Zoox which has raised $290 million in total having become a major startup for Tesla incubated employees whilst being valued at a huge $1.55 Billion in addition to LiDar maker Quanergy Systems and Cruise which got a $2.25 Billion investment commitment from Softbank late this year.





Pony.ai launched a taxi service 7 months ago in the Chinese region which has so far delivered over 1,000 autonomous rides in the region with Pony aiming to expand this service along with its partnerships, testing and hiring of much needed talent with this investment.

James Peng, Pony's co-founder and CEO issued a statement on this investment saying James Peng. “I truly believe the next major challenge for autonomous cars will be small and medium scale deployment—this is an absolutely critical step to validating the system’s overall stability and reliability. We are grateful for the new and continued support in helping us to achieve this future.”

With vast capital and major development milestones, We would now get to see how Pony would fare in the rapidly growing and interesting autonomous vehicle market counting the likes of Chinese tech companies Baidu, Alibaba and Tencent as other notable players along with the major likes of Waymo, Uber, Tesla, Zoox, Cruise, Ford and other major automobile companies.




 


Comments

Popular posts from this blog

Wireless Power startup Nikola Labs raises $1.2 million to expand its IoT services

Wireless power developer Nikola Labs has now raised $1.2 million in new funding to grow its operations as it produces wireless power components for various Internet of Things (IoT) services.

Prior to this, Nikola Labs has raised several venture rounds from various incubators and startup investors at the company's area represents a very revolutionizing one and has seen Nikola recruit various talent as it continues to dish out its several smart products.

Nikola currently offers a "Predictive Maintenance" service for facilities where it provides custom wireless power transmission products and services for consumers.





Amongst its products include a phone case which extends battery life through the recycling of wasted energy through the conversion of Radio frequency to Direct current energy.

Nikola's wireless charging solution stands as a very innovative and revolutionizing one as its energy harvesting system is capable of delivering power at a distance of 30 feet in comp…

Google faces record $5 Billion fine from the Euopean Union over Android Anti-trust Case

image credit : Flickr/Ken Yeung

Tech giant Google is facing what is a record fine issued by the EU over antitrust regulations with a reported €4.34 Billion ($5.06 Billion) imposed on the company over a stated violation of anti-trust laws with the EU accusing Google of abusing the dominance of its Android operating system through the bundling of its search engine and Chrome applications into the OS.

 This comes a year after Google was fined an also then record $2.7 Billion fine over alleged manipulation of its search results, A judgement currently under appeal by Google and is being debated in the legal courts.

 The European Union first began an investigation into this allegation as long as 39 months ago and is now making this verdict in response to the case which has seen Google being imposed with the largest fine ever by the European Union over anti-trust valuations.

 In addition to this, Google is also alleged to have blocked other smartphone makers from creating devices running modde…

Machine Learning startup Unisound gets $90 million in latest funding round

Image credit: Unisound

Chinese AI and Machine Learning startup Unisound has just closed 600 million Yuan ($90 million) in funding as part of its Series C round from several investors which include internet security company Qihoo 360, Qiming Venture Partners, Hanfor Holdings and the China Ministry of Finance with this investment round now bringing the total raised by the 6 year old AI startup to $300 million.

This investment notably came with a valuation of around $1 Billion for the company according to Caixin Global marking the latest entrant into the unicorn space.





With AI growing rapidly around the globe, Unisound is part of the huge swath of companies looking to provide various machine learning and AI hardware and software solutions for application across vast industries such with the healthcare, automobile, manufacturing and other industrial sectors being a major part of the rapid growth.

Unisound has continued to see high revenue growth over the years with the company now targeti…

Indian Learning startup Unacademy nabs $21 million investment from Sequioa, Nexus, SAIF and Blume Ventures

image credit : Unacademy

Bangalore based ed-tech startup Unacademy has now raised $21 million in a Series C investment round from major U.S. VC firms Nexus Ventures and Sequioa Capital along with Indian VC firm Blume and SAIF partners.

 The investors in this round stand out as the 4 of them were also the investors which participated in the company's most previous $11.5 million Series B round September last year with this funding coming after a previous report by Inc42 stating that Unacademy was aiming to raise a new round of $30 million for its operations.

Unacademy which has grown to over 3,000 educators on its platform is making use of this investment to "onboard new educators on the platform, penetrate deeper in categories including pre-medical, GATE and CAT, and further strengthen the core product and technology team."





“Sequoia India is thrilled to lead the new round in Unacademy, which is already making a big impact in India’s online learning space. Gaurav, Roman and…

Snowball Finance gets $120 million investment from Ant Financial

image credit : Ant Financial

Chinese fintech startup Snowball Finance has now gotten a confirmed $120 million Series D investment from fintech giant Ant Financial in this round which brings the total raised by the 8 year old startup to a bit over $170 million after having raised previous rounds from notable investors including Sequioa Capital, Renren and Morningside.

Snowball notably offers financial information and trading services through its site reported to have grown to a huge community of over 12 million monthly active users which provide financial information, investment ideas and in-depth data across its service.

This capital will be invested in Snowball's product development, recruiting of talent and improvement of its trading system according to the company's founder and CEO Fang Sanwen.





This investment from fintech giant Ant Financial which notably raised a record $14 Billion last month at a $150 Billion valuation represents a strategic partnership as Ant Financial b…

Booking Holdings invests $500 million in major ride-hailing firm Didi Chuxing

image credit : Didi Chuxing 

Travel giant Booking Holdings notable for operating some of the world's largest travel tech services including its eponymous Booking.com, Priceline, Kayak, Cheapflights and Agoda.com while being a major company in the transportation tech sector has now entered into a strategic partnership with Chinese ride-hailing giant Didi Chuxing investing $500 million while integrating both company's services together.

This partnership will now see several integrated features such as a new one which will now see users on Booking Holdings' brands being able to get on-demand car services powered by Didi in-app and Didi's users now also having the option to book hotels though Booking.com and Agoda.

Stephen Zhu, Vice President for Strategy of Didi Chuxing, said, "Building on its leadership and expertise in the global online travel market, Booking is championing a digital revolution of travel experience. We look forward to seamlessly connecting every seg…

Corrected : Self driving startup Zoox is rasing $500 million in new round led by Australian entrepreneur Mike Cannon-Brookes

Courtesy : Bloomberg
Self-driving technology startup and Unicorn Zoox has now raised $500 million in a new Series B round confirmed to be led by Australian entrepreneur and Billionaire Atlassian co-founder Mike Cannon-Brookes as first reported by Bloomberg.

 Zoox has been one of the most tracked startups in the autonomous vehicle space despite being quite secretive about its products but has seen much several reports concerning its autonomous vehicles and the company's acquisition of talent from major technology companies like Tesla, Apple, Amazon, Google and Ferrari among others.





Zoox has now raised a total of about $800 million with its three funding rounds amounting to investments of $40 million, $250 million and $500 million respectively whilst being valued at $3.2 Billion post-money and counting notable investors including Billionaire film producer Thomas Tull, Lux Capital, Draper Fisher Jurvetson and Blackbird Ventures.

Zoox is notable for building its own autonomous vehicle…

KKR takes $400 million stake in ad-tech company AppLovin at $2 Billion Valuation

image credit : AppLovin

Ad-tech company AppLovin has now agreed to a $400 million investment from private equity giant KKR & Co in a deal valuing the 6 year old company at $2 Billion counting an increase of $600 million from its most previous valuation of $1.4 Billion.

AppLovin stands as a comprehensive platform providing connection of app developers of all sizes with ideal global consumers with a focus on the gaming sector and with this investments plans to "accelerate AppLovin’s goal of giving app developers of all sizes the ability to finance, market, and grow their businesses."

The company which reaches over 300 million users daily just recently launched its mobile game division Lion Studios which has already published several mobile hit games including Draw In, Love Balls, Cash, Inc., and Clicker Racing which has already garnered over 60 million downloads between them.





“AppLovin is a robust, market leading platform in the high-growth mobile gaming market,” said Hera…

3D tech startup Mantis Vision raises $55 million from Samsung and Luenmei

Israeli 3D technology startup Mantis Vision notable for its provision of 3D image and video capturing technology with the company's tech being used in Google's Tango augmented reality computing platform before Tango was retired and also counting a partnership with smartphone maker Xiaomi has now closed a $55 million Series E funding round led by  Luenmei Quantum Co along with Samsung who stands as a returning investor in this round having already funded Mantis' previous Series C round through its Samsung Ventures arm and is investing in this round through its Samsung Catalyst Fund investment vehicle.

Mantis also counts other previous notable investors including semiconductor manufacturer Qualcomm, major lens manufacturer Sunny Optical Technology and Palo Alto based VC firm Eclipse.

This investment brings the total raised by Mantis to $84 million and will be funneled "to extend the company’s technological edge, accelerate Mantis Vision’s go-to-market strategy, expand …

Smart Electric Scooter startup reported to be planning $300 million IPO

image credit : Niu 

According to a new report from Bloomberg, Hong Kong based electric scooter startup Niu renowned for its sophisticated electric scooters is planning an upcoming IPO which will see the company raise $300 million in the public markets getting huge capital to expand its production and global reach.

 The report states of Niu currently working with advisers on a potential public offering scheduled to take place in the U.S. citing several people.

Prior to this, Niu is known to have raised more than $60 million in funding one year after its launch from multi-stage venture capital firm GGV Capital along with other investors and has already outed several scooters which include The N-Series, M-Series, U-Series, N-GT and M+

Niu is seeking to expand its market widely beyond the Chinese region and an IPO would play a very important role as it would provide the company with huge capital to grow its operations.



image credit : Niu

Niu has already expanded into the European region with …