Self-drive automaker Cruise, backed by General Motors Co, raised $2.75 billion in its latest funding round with additional investment from Walmart Inc and others, taking the startup’s valuation over $30 billion.
Cruise’s relationship with Walmart includes a trial delivery service in Scottsdale, Arizona. Cruise said it planned to begin deploying a limited number of its Origin vehicles for ride-hail services in Dubai from 2023, its first overseas commercial service.
“We are focused on our path to commercialization right now but the IPOs happening in the space right now are a great indication of the strength of the industry and the opportunity self-driving presents,” a Cruise spokeswoman said
Read the article at MSN.