Zoox raises $200 million to build self-driving car
Self-driving startup Zoox has raised $200 million in new convertible note funding, which will be folded into a Series C round that's expected to close later this year or at the beginning of 2020.
Why it matters: Zoox is more ambitious than most other autonomous tech startups, seeking to develop the entire car instead of just the software or sensors.
- This is the first new investment in Zoox since it fired co-founder and CEO Tim Kentley-Klay.
- No word yet on specific investors, except that the $200 million comes from a mix of new and existing backers.
- The company previously raised a $465 million Series B round at a $3.2 billion post-money valuation.
Editor's note: This story has been corrected to show that Zoox raised $465 million in Series B funding.