A secretive self-driving startup worth $2.5 billion just raised $600 million with help from Tesla's biggest outside investor

Aurora Innovation self driving car

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 is also Tesla’s second-largest shareholder after CEO Elon Musk, also participated in the round, Bloomberg News reported, but the firm wasn’t included in Aurora’s announcement. A spokesperson for Baillie Gifford did not respond to a request for comment.

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).

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Source: businessinsider
A secretive self-driving startup worth .5 billion just raised 0 million with help from Tesla's biggest outside investor