Aurora, a startup focussed on developing Self-Driving Cars is expected to be valued nearly $ 2 Billion after upcoming rounds of multiple fundings
The first contribution towards raising Aurora’s Valuation to $ 2 Billion is expected to come from the Investor Giant Sequoia Capital. Though Sequoia has funded a lot of companies across various streams such as the Communication, Blog Services, Engineering, Networking Advertisements, and Education, it is for the first time that they are stepping foot into the Self-Driving Segment.
However, this is not the first funding received by Aurora. Earlier last year, the company was successful in acquiring funding from Greylock Partners and Index Ventures. This was the first major round of funding that added notable figures to Aurora’s Valuation.
Sequoia has always been known for backing some of the most innovative companies. In fact, most of the companies that were backed by Sequoia in the past are now major stakeholders of the Fortune 500 Space.
Some of the notable names in the list of companies funded by Sequoia include Apple, Airbnb, Google, Cisco, LinkedIn, Wildcraft, Dropbox and WhatsApp.If the past examples are any indication, we could expect to see a similar trend for Aurora as well.
The company started in 2016, is one of the latest entrants into the Self-Driving Car Segment. Irrespective of the fact that they are new in the Autonomous Space, Aurora seems to be doing really well for a startup competing with some of the most established players. This might be one of the reasons that attracted Sequoia Capital.
Their growth is visible in a number of events. Within a time span of only two years, the company was able to increase its headcount to around 200. The increase in headcount is however much smaller as compared to, say the case of Cruise Automation where they increased their employee count from 40 to 1100 within a similar time frame.
Another example that acts as proof of their growth is Aurora’s success in striking partnerships with some of the biggest Automobile Manufactures for developing and deploying Self-Driving Technology. Two of these include Aurora’s alliance with Hyundai and Volkswagen Group.
Yet another reason that attracts Investor Companies to Aurora could be their unique vision. Unlike most of the companies in the Self-Driving Segment, Aurora actually plans to develop a complete set of Self-Driving Technology including both Software and Hardware. If they are indeed successful in achieving such a system which can be utilized by other companies working in the Self-Driving Segment, that would indeed be a huge contribution to the upcoming wave of Autonomous Navigation.