- Aurora Innovation has raised $600 milion as part of a Series B funding round from Kia and Hyundai.
- Baillie Gifford, Tesla’s top shareholder after CEO Elon Musk, also participated, Bloomberg News reported.
- Aurora cofounder Sterling Anderson previously worked on Tesla’s Autopilot program.
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Aurora Innovation, a self-driving startup worth $2.5 billion, has raised another $600 million round of venture capital with backers including Hyundai and Kia.
Baillie Gifford, a $221 billion Scottish investment manager that’s Tesla’s largest shareholder after CEO Elon Musk, is also involved in the round, a company spokesperson said, confirming earlier reports by Bloomberg News. However, the company declined to comment on the size of its stake and its name was not included in the announcement by Aurora.
Read more: The inside story of how an old-school Scottish firm became an early investor in many of Silicon Valley’s most prized unicorns, and made a killing in the process
The Series B addition brings the round to about $1.13 billion in total, which makes up a bulk of the roughly $1.2 billion in total funding that Aurora has raised to-date.
“Together with all of our ecosystem partners, we are seeing the convergence of a powerful platform that will deliver the benefits of self-driving technology safely, quickly, and broadly,” Aurora cofounder Sterling Anderson, who previously oversaw integral parts of Tesla’s Model X and Autopilot programs, said in a press-release.
Kia and Hyundai will join Amazon, Sequoia Capital, Geodesic, Shell Ventures and other previous investors as backers of Aurora, which has penned numerous partnerships with automakers like Fiat Chrysler.
In May, Aurora announced plans to purchase Montana-based Blackmore, a company which develops lidar radar systems used in self-driving cars (with Tesla being a major notable exception).
More self-driving car news:
- Uber just revealed a new self-driving car that it will use to take on Tesla and Waymo in the robotaxi wars
- Uber and Lyft are betting on self-driving cars to become profitable. But that may not happen, new research from MIT suggests.
- Your Uber ride could get 80% cheaper over the next decade
SEE ALSO: Uber just revealed a new self-driving car that it will use to take on Tesla and Waymo in the robotaxi wars
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